Public-domain · open source
OpenJurist

70 N.C. 124

Stokes v. . Cowles

Supreme Court of North Carolina

Decided January 5, 1874

Supreme Court of North Carolina · decided 1874-01-05

Civil aotioN, (to recover a promissory note,) tried before his Honor, Budge Albertson, at the August (Special) Term, 1873, of RowaN Superior Court. At Fall Term, 1870, the case was submitted to a jury, who returned a verdict in favor of the plaintiff for $2000, the full amount of the note sued upon, with interest from the date thereof. The note was dated 2d March, 1873, and made pay. able on demand.

Decided 1874-01-05

RodmaN, J.

¶1 There is nothing in this case to distinguish it from the case preceding, Bank of Charlotte v. Davidson, and numerous other cases of a similar character. The legislative scale must be applied at the date of the note. The Legislature of 1866 thought it equitable that in all eases whether upon *125 loans of Confederate money or on purchases of property, the borrower or purchaser should repay the vdkie which he received. Snell contracts were not looked on as contracts to deliver stocks or specific articles of fluctuating value, where the damages for the breach would be the price of such articles on the day of delivery. We have felt ourselves bound by the intent and language of the act, and we have no reason to doubt that the assumed equity upon which the act was founded, was the one really and properl}' applicable to such cases.

¶2 We do not think that it makes any material difference that the note sued on, was payable on demand, or earlier at the option of the makers; or that it expressed on its face that it was payable in Confederate money.

¶3 Judgment below reversed and judgment may be entered here in conformity with this opinion.

¶4 Pee Curiam. Judgment reversed.

/70/nc/124 · .json · Public domain