Hulbert v. . Douglas
Supreme Court of North Carolina
Civil action, tried before Gilmer, Judge, and a jury, at August Term, 1885, of the Superior Court of Guilford county. The defendant Robert M. Douglas, for the purpose of obtaining a loan of money, on the 20th day of May, 1879, executed to the other defendant, Thomas B. Keogh, his promissory note, in the sum of $7,000, payable at five years, and bearing ten per cent, interest from date, which interest was represented by five several coupons, each of $700, due annually; and to…
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Civil action, tried before Gilmer, Judge, and a jury, at August Term, 1885, of the Superior Court of Guilford county. The defendant Robert M. Douglas, for the purpose of obtaining a loan of money, on the 20th day of May, 1879, executed to the other defendant, Thomas B. Keogh, his promissory note, in the sum of $7,000, payable at five years, and bearing ten per cent, interest from date, which interest was represented by five several coupons, each of $700, due annually; and to provide ample security therefor, conveyed five acres of land in Chicago, where the loan was expected to be obtained, to…
1Opinion of the CourtSmith, C. J.
(after stating the ease). It is manifest that if the plaintiff knew, or such facts came to his knowledge as ought to have put him on inquiry, or which, if prosecuted, would have conveyed the information', before he purchased the security, of the $4,000 partial payment received by the payee from the defendant Douglas, with the express agreement that it should be appropriated to the note, and be entered as a credit thereon, he would take it cum onere, and the deposit left in the bank would operate as a discharge of the maker. If the plaintiff had no such knowledge, actual or constructive, the…
2Cases cited1 opinion
- Dupree v. . Virginia Home Insurance Co.Supreme Court of North Carolina · 1885
3Cited by20 opinions
- Hill v. RailroadSupreme Court of North Carolina · 1906
- Perkins v. LangdonSupreme Court of North Carolina · 1953
- McIver v. Young Hardware Co.Supreme Court of North Carolina · 1907
- Wynn v. GrantSupreme Court of North Carolina · 1914
- Arrington v. . ArringtonSupreme Court of North Carolina · 1894
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