First National Bank of Charlotte v. Lineberger, Rhyne & Co.
Supreme Court of North Carolina
Civil Action (tried at Spring Term., 188©, of Mecklen-burg Superior Court, before McKoy, J. The plaintiff declared upon a promissory note made by W. & It.
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Civil Action (tried at Spring Term., 188©, of Mecklen-burg Superior Court, before McKoy, J. The plaintiff declared upon a promissory note made by W. & It. Tiddy, for two hundred and sixty-five dollars, payable to the order of the defendants, Lineberger, Rihyne & The defendants, by way of defence, say in their .answer, .-after admitting the endorsement, that no notice was ever given to them of thofailure of said makers to pay said note at maturity; that they have no knowledge or information ¡sufficient to form - a belief as to the fact that said noté had not been paid by said makers, bu.t they…
1Opinion of the CourtAsiie, J.
There was no exception taken on the trial' to. the issues submitted to the jury nor- to-the - ruling of the* court upon the introduction of evidence, and the only question for our consideration is, was there a proper-judgment-rendered upon the finding of the jury..
The principle is well settled that time or fbrbearance-givon by the creditor to the principal debtor by a promise* or contract which binds him in law and would bar his action against the debtor, the surety is-discharged. Because-it essentially varies the terms of the original obligatiorv which ceases to be that for the due…
2Cases cited1 opinion
- Evans v. . RaperSupreme Court of North Carolina · 1876
3Cited by13 opinions
- Ward v. . SuggSupreme Court of North Carolina · 1893
- Forbes v. . SheppardSupreme Court of North Carolina · 1887
- Lemmon v. WhitmanIndiana Supreme Court · 1881
- Hinton v. . GreenleafSupreme Court of North Carolina · 1893
- Fleming v. . BardenSupreme Court of North Carolina · 1900
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