Morehead Banking Co. v. Morehead
Supreme Court of North Carolina
Civil action, heard before Winston, J., at June Term, 1894, of Durham Superior Court. The action was upon a note which had been given in renewal of a note on which the testator of defendant L. L. Morehead, Executrix, was surety.
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Civil action, heard before Winston, J., at June Term, 1894, of Durham Superior Court. The action was upon a note which had been given in renewal of a note on which the testator of defendant L. L. Morehead, Executrix, was surety. The note sued on was as follows: “S4000.00. Durham, N. C., Aug., 1892. “Six months after date, we or either of us, S. T. Morgan, J. S. Carr, W. "W. Avery, and Mrs. L. L. Morehead, Executrix of Eugene Morebead, but not personally, promise to pay to tbe order of Morebead Banking Company Four Thousand Dollars with interest at eight per cent, per annum thereafter if…
1Opinion of the Court
Avery, J.:
It is an elementary principle that every person who is not at the time laboring under some total or partial disability, such as infancy, insanity or coverture, has the legal capacity to enter into 'any agreement not prohibited by law, and that the lawful contracts of persons having the capacity to enter into them are binding upon and enforcible against the parties to them. It is equally familiar learning that all contracts between persons capable of entering into them, and not in conflict with the State or Federal Constitution, in contravention of common or statutory law, or…
2Cases cited1 opinion
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