Cox v. Knight's Administrator

— The appellee’s intestate was tbe surety of one Reid on a promissory note made by them, payable to tbe appellant, and due in January, 1862. In the summer or fall of 1865, Reid proposed to the appellant to pay tbe note with cotton, at seventy cents a pound, tbe price then being about thirty-five or forty cents. The cotton then in his possession was to be delivered at his gin-house, when ginned and packed, of which the appellant was to have notice. To this proposition the latter agreed, and afterwards he received some cotton, which he sold and appropriated to the payment of the note. But on…