Bond v. Pickett Cotton Mills, Inc.
Supreme Court of North Carolina
Appeal by plaintiffs from Lane, Jat March Term, 1914, of Gutlfobd. Civil action beard on exceptions to report of referee.
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Appeal by plaintiffs from Lane, Jat March Term, 1914, of Gutlfobd. Civil action beard on exceptions to report of referee. Tbe action was one in tbe nature of a creditor’s bill, instituted to April Term, 1912, Superior Court of Guilford County, by A. Y. Bond, Tbe Odell Hardware Company, et al., subcontractors and material men, in bebalf of tbemselves and all others in like case, to establish a-lien and subject to payment of their claims the amount due the contractor for a house built for defendant The Pickett Cotton Mills. It appeared that the Central Carolina Construction Company had built…
1Opinion of the Court
Hoke, J.,
after stating tbe case: Tbe decisions of this State recognize tbe position, and some of tbe distinctions growing out of it, that interest may be a charge for tbe use of money expressly stipulated for by tbe contract, or it may be imposed by way of damages for its wrongful detention. King v. Philips, 95 N. C., 245.
When considered in tbe nature of damages, and unless otherwise provided by statute, it is very generally held that there must be some kind of default established on tbe part of a debtor before interest can be collected. Thus, in case of agency and except in case of…
2Cases cited9 opinions
- Morganton Manufacturing & Trading Co. v. AndrewsSupreme Court of North Carolina · 1914
- Lewis v. W. D. Rountree & Co.Supreme Court of North Carolina · 1878
- Kester Bros. v. Miller Bros.Supreme Court of North Carolina · 1896
- King v. . PhillipsSupreme Court of North Carolina · 1886
- Parton v. . BoydSupreme Court of North Carolina · 1889
4 more not listed; retrieve them via the Exa API.
3Cited by36 opinions
- Rose v. Vulcan Materials CompanySupreme Court of North Carolina · 1973
- Harris & Harris Construction Co. v. Crain & Denbo, Inc.Supreme Court of North Carolina · 1962
- Croom v. . Lumber Co.Supreme Court of North Carolina · 1921
- Investment Properties of Asheville, Inc. v. AllenSupreme Court of North Carolina · 1972
- Croom v. Goldsboro Lumber Co.Supreme Court of North Carolina · 1921
31 more not listed; retrieve them via the Exa API.