George D. Witt Shoe Co. v. Peacock
Supreme Court of North Carolina
Aotion tried before J ones, J., and a jury^ at February Term, 1909, of Davidson. Plaintiff company sues upon the following instrument: “$1,000. December 7, 1907. “Sixty days after date, we, or either of us, promise to pay to Emery E. Eaper, attorney, or order, the sum of one thousand dollars, for value received, which money, when received by him, to be applied to tbe iDayment of all claims be bas now in bis bands for collection against tbe said J. L. Peacock and to…
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Aotion tried before J ones, J., and a jury^ at February Term, 1909, of Davidson. Plaintiff company sues upon the following instrument: “$1,000. December 7, 1907. “Sixty days after date, we, or either of us, promise to pay to Emery E. Eaper, attorney, or order, the sum of one thousand dollars, for value received, which money, when received by him, to be applied to tbe iDayment of all claims be bas now in bis bands for collection against tbe said J. L. Peacock and to such-others as be may receive for collection, until tbe full amount is applied. Tbis note executed for tbe purpose of securing…
1Opinion of the Court
Connor, J.,
after stating the case: Tbe sole question presented by plaintiff’s exception is whether the $647.50 received by Mr. Raper shall be applied to the obligation of defendant Fuller in reduction of bis liability for $1,000, the amount of the bond. Plaintiff insists tbat Peacock bad the right to apply the $647.50 to the payment, pro raía, of all of the debts against him in the bands of Raper for collection, including those received subsequent to the execution of the bond. Applied in this way to the total amount of the debts, $1,816, there remains due on them $1,181.81, for which, to the…
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