Houston v. . Potts
Supreme Court of North Carolina
Debt upon a bond, tried before Logan, J., at tbe January Special Term 1870, of Mecklenburg- Court. Tbe defendant pleaded, General issue, Usury, and That tbe agreement between tbe principal in tbe bond and tbe plaintiff was a fraud upon himself as surety.
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Debt upon a bond, tried before Logan, J., at tbe January Special Term 1870, of Mecklenburg- Court. Tbe defendant pleaded, General issue, Usury, and That tbe agreement between tbe principal in tbe bond and tbe plaintiff was a fraud upon himself as surety. Plaintiff introduced tbe bond as follows : $900. Pleasant Valley, S. O. One day after date we or either of us promise to pay to Jane D. Houston or order, nine hundred dollars, for value received, as witness our hands and seals. R. C. POTTS. [seal.] JOPIN M. POTTS, [seal.] The execution of the same by John M. Potts was also proved. Jane D.…
1Opinion of the CourtSettle, J.
The plaintiff, Jane D. Houston, went to the house of the principal, R. C. Potts, who resided in the State of South Carolina, for the purpose of collecting money then due from him to her wards. The said principal being unprepared to pay the money at that time, proposed to execute his bond to the plaintiff, with his brother J. M. Potts, who resided in North Carolina, as surety. To this the plaintiff assented, upon the agreement between them that the said R. C. Potts would secure to her South Carolina interest, to-wit,: 7 per cent., -which, was the legal rate of interest in that State. In…
2Cited by3 opinions
- Bundy v. . Commercial Credit Co.Supreme Court of North Carolina · 1931
- Bundy v. Commercial Credit Co.Supreme Court of North Carolina · 1931
- Houston Ex Rel. Wordsworth v. PottsSupreme Court of North Carolina · 1871