Ex Parte Rice

The opinion of the Court was delivered by

Mr. Acting Associate Justice Oscar E. Hodges.

The Bamberg Banking Company was declared insolvent, and the South Carolina Savings Bank appointed receiver on February 7, 1931, to liquidate its affairs.

At some time prior to the closing of the bank, A. H. Rice executed and delivered to said bank, two promissory notes in the total sum of $2,072.41, payable January 15, 1931. Both notes were indorsed by A. Rice and contained the following provision: “I promise to pay to the order of Bamberg Banking Company, Bamberg, South Carolina, without off-set.” The…