Hilliard v. . Newberry
Supreme Court of North Carolina
Appeal from Peebles, J., at tbe June Term, 1910, of Cab-TEEET. Tbe action was instituted on 2 February, 1910, and tbe complaint of plaintiffs duly verified contained allegations to tbe effect tbat on tbe 27tb day of January, 1908, plaintiff’s intestate and defendant A. O. Newberry dissolved partnership theretofore existent between them, defendant A. O. Newberry buying out tbe interest of tbe intestate, and in payment for such interest conveyed to plaintiff’s intestate three…
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Appeal from Peebles, J., at tbe June Term, 1910, of Cab-TEEET. Tbe action was instituted on 2 February, 1910, and tbe complaint of plaintiffs duly verified contained allegations to tbe effect tbat on tbe 27tb day of January, 1908, plaintiff’s intestate and defendant A. O. Newberry dissolved partnership theretofore existent between them, defendant A. O. Newberry buying out tbe interest of tbe intestate, and in payment for such interest conveyed to plaintiff’s intestate three tracts of land on which there was a mortgage, duly registered and now held by co-defendant M. Hahn. This mortgage,…
1Opinion of the Court
Hoke, J.,
after stating tbe ease. On the question presented the authorities are to the effect that when a collateral obligation is in strictness one of indemnity, an action at law will not lie unless and until some actual loss or damage has been suffered; but when the obligation amounts to a binding agreement to do or refrain from doing some definite, specific thing materially affecting the rights of the parties, an action will presently lie for breach of such an agreement and no damage need be shown. Even on a bond of strict indemnity, however, while an action at law would not lie until…
2Cases cited4 opinions
- Lathrop v. AtwoodSupreme Court of Connecticut · 1851
- Kohler v. . MatlageNew York Court of Appeals · 1878
- Bank v. Moore.Supreme Court of North Carolina · 1905
- Hall v. NashMichigan Supreme Court · 1862
3Cited by11 opinions
- Acme Manufacturing Co. v. McCormickSupreme Court of North Carolina · 1918
- Lackey v. Southern Railway Co.Supreme Court of North Carolina · 1941
- Roebuck v. . CarsonSupreme Court of North Carolina · 1929
- Chicago & Northwestern Railway Co. v. KrammeSupreme Court of Iowa · 1953
- Lumberton v. . Hood, CommissionerSupreme Court of North Carolina · 1933
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