Cobb v. . Gray
Supreme Court of North Carolina
Civil Action, commenced in a Justice’s Court and tried ■on appeal,at Fall Term, 1877, of Alamance Superior Court,' before Buxton, J. A jury trial being waived, His Honor found the facts as follows:— In 1853, Mary, Margaret and Phoebe Gray gave their note to the plaintiff’s intestate and made several payments which were credited thereon, and in January, 1863, they went to him tp make another payment of $200, but there being no space on which to enter -.the credit, a new note…
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Civil Action, commenced in a Justice’s Court and tried ■on appeal,at Fall Term, 1877, of Alamance Superior Court,' before Buxton, J. A jury trial being waived, His Honor found the facts as follows:— In 1853, Mary, Margaret and Phoebe Gray gave their note to the plaintiff’s intestate and made several payments which were credited thereon, and in January, 1863, they went to him tp make another payment of $200, but there being no space on which to enter -.the credit, a new note under seal was .executed, for the balance due, less the $200 payment, and signed'by said‘Mary and- Margaret, and bhe…
1Opinion of the CourtFaircloth, J.
(After stating the facts as above.) We agree with His Honor in holding that said note is not liable to the scale. The case of Cable v. Hardin, 67 N. C. 472, is not in point. There, it was held from the manifest intent of the parties that the transaction was a new loan, and the scale applied. Here, the debtors did not propose or intend to pay the whole debt, but only a part of it; and the new note was not made for the benefit of the creditor, nor upon any idea of a loan of that amount of money, but because there was not room on the old note to enter the credit. No. Yation is not to be…
2Cases cited2 opinions
- Cable v. . HardinSupreme Court of North Carolina · 1872
- McCOMB, EX'R v. COMMISSIONERS, ETC.Supreme Court of the United States · 1875