Poindexter v. . McCannon
Supreme Court of North Carolina
From Surry. This bill was filed its October, 1823, to redeem a negro man slave, which the Plaintiff alleged he mortgaged io the Defendant, Me,Cannon, on the 15th Sep-ember,» 1.810, and which MeCaimon sold to the other Defendant on I4(h September, 1811. The bill alleged that the Plaintiff was indebted to Mcfí. it» the sum of $ 150, and wanting money, be borrowed S ¡53 more from him, and to secure the payment of the whole, agreed to mortgage to him the negro in question, then…
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From Surry. This bill was filed its October, 1823, to redeem a negro man slave, which the Plaintiff alleged he mortgaged io the Defendant, Me,Cannon, on the 15th Sep-ember,» 1.810, and which MeCaimon sold to the other Defendant on I4(h September, 1811. The bill alleged that the Plaintiff was indebted to Mcfí. it» the sum of $ 150, and wanting money, be borrowed S ¡53 more from him, and to secure the payment of the whole, agreed to mortgage to him the negro in question, then a likely hoy about sixteen years old, and worth 3 500. That accordingly he made him a bill of sale, expressed to be in…
1Opinion of the Court
Ruffin, Judge,
after stating the case as above, pro» ccedcd : A mortgage and a conditional sale are nearly allied to each other, and it is frequently difficult to say, whether a particular transaction is the one or the other,, The difference between them is, that the former is a security for a debt $ and the latter is a purchase for a pries paid, or to be paid, to become absolute on a particular event $ or a purchase, accompanied by an agreement ta re-sell upon particular terms. It is tine latter Mud, that runs so nearly into a mortgage. For, as needy aim»1 " tressed men are those who are…
2Cited by11 opinions
- O'Briant v. . LeeSupreme Court of North Carolina · 1939
- Watkins v. . WilliamsSupreme Court of North Carolina · 1898
- Worley, Receiver v. CarterSupreme Court of Oklahoma · 1912
- Sheffield v. WalkerSupreme Court of North Carolina · 1950
- Montague Bros. v. W. C. Shepherd Co.Supreme Court of North Carolina · 1950
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