ARCADY FARMS MILLING COMPANY v. Wallace
Supreme Court of North Carolina
1Opinion of the CourtParker, J.
At the beginning it is to be noted that the male defendants are sued upon their trade acceptances, and that the feme defendants are sued upon their guaranty contract, specially set forth and pleaded.
The obligation of a surety is primary, and the surety becomes bound as an original debtor is bound. He is directly and equally bound with his principal. Trust Co. v. Clifton, 203 N.C. 483, 166 S.E. 334, 84 A.L.R. 725; Bond Co. v. Krider, 218 N.C. 361, 11 S.E. 2d 291; Dry v. Reynolds, 205 N.C. 571, 172 S.E. 351; Rouse v. Wooten, 140 N.C. 557, 53 S.E. 430.
A guaranty of payment is an absolute promise…
2Cases cited17 opinions
- Rouse v. Wooten.Supreme Court of North Carolina · 1906
- Wachovia Bank & Trust Co. v. CliftonSupreme Court of North Carolina · 1932
- Leach v. . PageSupreme Court of North Carolina · 1937
- Cowan v. RobertsSupreme Court of North Carolina · 1904
- Daniels v. . FowlerSupreme Court of North Carolina · 1897
12 more not listed; retrieve them via the Exa API.
3Cited by20 opinions
- Investment Properties of Asheville, Inc. v. NorburnSupreme Court of North Carolina · 1972
- O'Grady v. First Union National BankSupreme Court of North Carolina · 1978
- Perfecting Service Co. v. Product Development & Sales Co.Supreme Court of North Carolina · 1963
- Branch Banking & Trust Co. v. CreasySupreme Court of North Carolina · 1980
- Gillespie v. DeWittCourt of Appeals of North Carolina · 1981
15 more not listed; retrieve them via the Exa API.