Bryan v. . Foy
Supreme Court of North Carolina
This was a civil action tried before his Honor, Watts, J., at the special January Term, 1873, of Craven Superior Court. The plaintiff declared on a sealed promissory note or bond given by five obligors, of whom the defendant was one, and it appeared on the face of the bond that he was a surety and he was the only person sued.
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This was a civil action tried before his Honor, Watts, J., at the special January Term, 1873, of Craven Superior Court. The plaintiff declared on a sealed promissory note or bond given by five obligors, of whom the defendant was one, and it appeared on the face of the bond that he was a surety and he was the only person sued. The defendant proposed to show that the plaintiff had agreed to take from him, in consideration that he was the only solvent party to the bond, and the plaintiff was pressed for money, one-half of the amount due if paid at once. He offered to show further that in…
1Opinion of the CourtSettle, J.
We see nothing in the record to distinguish this case from McKenzie v. Culbreth, 66 N. C. Rep. 534.
It is there said that an agreement by a creditor to receive a part in discharge of the whole of a debt due to him by bond is an agreement without consideration, and therefore void, and that that principle is too well established and too long acquiesced in to be disturbed. There are many exceptions to this rule, but after a careful examination of all the authorities cited by the defendant’s counsel, we cannot perceive that this case falls within the principle of any recognized exception.
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2Cases cited1 opinion
- William R. McKenzie v. . Thomas N. and W. R. CulbrethSupreme Court of North Carolina · 1872
3Cited by7 opinions
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