Farmers State Bank v. Singletary
Court of Appeals of Georgia
Complaint; from Early superior court—Judge Worrill. January 5, 1918. The petition alleges, in substance, that on June 30, 1915, it was agreed between 'the plaintiffs and the defendant, the Farmers State Bank, that the bank should be allowed to hypothecate, for the purpose of obtaining funds needed in carrying on its regular banking business, certain cotton delivered to -it by the plaintiffs on that date; and at the same time the bank issued to them certificates of deposit…
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Complaint; from Early superior court—Judge Worrill. January 5, 1918. The petition alleges, in substance, that on June 30, 1915, it was agreed between 'the plaintiffs and the defendant, the Farmers State Bank, that the bank should be allowed to hypothecate, for the purpose of obtaining funds needed in carrying on its regular banking business, certain cotton delivered to -it by the plaintiffs on that date; and at the same time the bank issued to them certificates of deposit for $17,162.64, which amount was to be deducted from the proceeds. of the cotton when sold, it being agreed that no such…
1Opinion of the Court
Wade, C.' J.
1. Where accord’ and’ satisfaction is pleaded in bar to a suit based on the’ original cause of action, it must appear that the accord has been fully executed; but where an agreement has. been reached between the parties as to the amount of indebtedness due by one to the other after a comparison anil adjustment of their respective claims, and a portion only of the resulting sum- of indebtedness agreed upon is paid by one party and the balance thereof still remains unpaid, the other party is not compelled to rescind or disregard the compromise agreement and sue on the original…
2Cases cited44 opinions
- First Nat. Bank of Charlotte v. National Exchange Bank of BaltimoreSupreme Court of the United States · 1876
- Davis & Co. v. MorganSupreme Court of Georgia · 1903
- Petty v. Brunswick & Western Railway Co.Supreme Court of Georgia · 1900
- Phinizy v. BushSupreme Court of Georgia · 1907
- Belt v. LazenbySupreme Court of Georgia · 1906
39 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Russell v. SmithCourt of Appeals of Georgia · 1948
- Venture Construction Co. v. Great American Mortgage InvestorsCourt of Appeals of Georgia · 1975
- Walbridge v. Jacobs' Pharmacy Co.Court of Appeals of Georgia · 1939
- Vann v. KimbrelCourt of Appeals of Georgia · 1924
- Doyal v. Ben O'Callaghan Co.Court of Appeals of Georgia · 1974
1 more not listed; retrieve them via the Exa API.