Public-domain · open source
OpenJurist

20 N.C. 70

Powell v. Guy

Supreme Court of North Carolina

Decided June 15, 1838

Supreme Court of North Carolina · decided 1838-06-15

This was an action of Assumpsit upon a promissory nóte made jiy Bathsheba Farmer, the intestate of the defendant, payable to John Farmer the intestate of the plaintiff. The only question upon the trial was whether the plaintiff had a right to recover interest according to the face of the note, or whether it was to be computed from the death of the maker — and upon that the following facts were stated in the form of a case agreed.

Decided 1838-06-15

Daniel, Judge.

¶1The words endorsed on the note, “ This note not to be collected until after the death of the maker,” do not in our opinion, change the plain intent of the parties, apparent on the face of the note. When we read the note and the endorsement, the manifest intention of the parties seemed to be, that interest was to run on the principal from one day after the date of the same; although the principal and interest were not to be demandable, until the death of the maker. It is a case standing on the same footing with all notes made payable at a future day, but carrying interest from the date. The payer of the note, could not be expected to abandon the profits of his capital; although, in favour of his mother, we can see a good reason why he did not wish to distress her in her life time, for a return of that capital and interest. We think the judgment should. have been for the principal with interest from the 22d day of January 1817.

¶2The judgment will be modified accordingly

¶3Per Curiam. Judgment reversed.

/20/nc/70 · .json · Public domain