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6 N.C. 123

Gray v. Young

Supreme Court of North Carolina

Decided January 15, 1812

Supreme Court of North Carolina · decided 1812-01-15

From Washington. This was an action of covenant, brought upon the following writing obligatory, to-wit: “Fifteen months after date, we, or either of us, do promise to pay or ‘ cause to be paid unto Joshua Gray, or order, one hundred dollars “ currency, or a good work horse, for value received. — Witness our- “ hands and seals this 3d September, 1808. “JOSHUA YOUNG, (Seal.) , “C. LEARY, (Seah)” The Defendant pleaded among other pleas, “ tender and refusaland the Jury found…

Decided 1812-01-15

Taylor, Chief-Justice,

¶1delivered the opinion of the Court:

¶2The evident intention of the parties, as well as the justice of the case, cannot be mistaken. The bond could have been satisfied only by the payment of one hundred dollars, or the delivery or tender of a horse of that value ■, and requires the same construction as if the debtor had promised to pay one hundred dollars in a horse or any other specific property. The value in property which he is bound to pay is to be measured by the amount of the debt, and must be at least equal to it. The contract might have been susceptible of a different construction, if the money had been inserted in the nature of a penalty 5 but there is nothing in the instrument where such an inference can be derived, — Judgment for the Plaintiff.

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