Farmers Bank v. Hunt, Paylor & Co.
Supreme Court of North Carolina
Civil ActioN upou a promissory note, upon wbicb tbe firm of Hunt, Paylor & Co. was principal, and tbe other defendants wrere sureties, tried before Timberlahe, J., at August Term, 1898, of PeesoN Superior Court. Tbe principal obligor set up no defence. Tbe sureties controverted tbeir liability. There was verdict and judgment against them also, and they appealed. Tbe circumstances of avoidance relied upon by them are stated in tbe opinion.
1Opinion of the Court
MoNtgcímbey, J.
Tbis action was brought for the recovery of the amount due upon a promissory note made by the defendants to the plaintiff. The defendants, Hunt and Paylor, the principal debtors, made no defence. The defendants, James and Mitchell, the sureties, in their answer averred that in November, 1895, Hunt and Paylor, doing business as Hunt, Paylor & Oo., desired to borrow money from the plaintiff, to be used in their business, and proposed to the plaintiff to give as sureties, to secure the notd, the defendants James and Mitchell, and also one S. P. Williams; that Paylor came to the…
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