Burroughs & Springs v. Bank of Charlotte
Supreme Court of North Carolina
Civil action, tried before Moore, «71, at the July (Special) Term, 1873, of Mecklenburg Superior Court, upon the following Case agreed.
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Civil action, tried before Moore, «71, at the July (Special) Term, 1873, of Mecklenburg Superior Court, upon the following Case agreed. A. M. N. Taylor was indebted by note to defendant, and to pay off the same, purchased certain bank bills, emitted by the defendant, the Bank of Charlotte, which bills are the same, as herein sued on ; that Taylor paid for these bills sixty cents in the dollar, and in order to raise the money therefor, he made a note to the First National Bank of Charlotte, depositing the bills as collateral security, on the 29th May, 1869, of $2280. This note remained unpaid…
1Opinion of the Court
RodM&N, J.
This action is brought to recover on certain bills issued by the defendant.
The defence is that the bills sued on were, when the suit was brought, and for sometime before had been, in fact, the property of Taylor, who was a debtor to the bank, and who agreed to apply them in payment of his debt to the bank, and the bank agreed to receive them ; and the defendant demand judgment, that the debt of Taylor be set off against plaintiff’s demand on the bills.
It will probably be admitted that if Taylor had retained the interest in the notes sued on, which he acquired on his purchase from…
2Cases cited1 opinion
- Martin v. . RichardsonSupreme Court of North Carolina · 1873