Edwards v. Snow Hill Supply Co.
Supreme Court of North Carolina
ActioN beard by 0. H. Allen, J., upon report of referee, at December Term, 1908, of Gbebne. Appeal by Fairelotb & Dail.
1Opinion of the CourtClark, C. J.
On 10 January, 1908, at a meeting of the stockholders of the Snow Hill Supply Company, it was arranged that the company would borrow $8,000 from the bank, and the stockholders agreed among themselves that if F. W. Faircloth, T. M. Dail and A. O. Dail, the president, and two of the directors would individually endorse said note as sureties, the stockholders would place their stock in the company with said en dorsers as collateral. On 11 January a note of tbe company for $4,000, and on 18 March a similar note for $2,000, with said endorsers, was discounted by the bank and the proceeds used in…
2Cases cited7 opinions
- Duke v. . MarkhamSupreme Court of North Carolina · 1890
- Lowry Banking Co. v. Empire Lumber Co.Supreme Court of Georgia · 1893
- Cheatham v. . HawkinsSupreme Court of North Carolina · 1877
- Hill v. Pioneer Lumber Co.Supreme Court of North Carolina · 1893
- Graham v. Carr.Supreme Court of North Carolina · 1902
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3Cited by12 opinions
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- Powell Bros. v. McMullan Lumber Co.Supreme Court of North Carolina · 1910
- Caldwell v. . RobinsonSupreme Court of North Carolina · 1920
- Whitehurst v. GarrettSupreme Court of North Carolina · 1928
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