Specialty extinguishes simple contract
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 11 U.S. 299 - Bank of Columbia v. Patterson's · 1813Most cited · 61 citing opinions
It is undoubtedly true, that a security under seal, extinguishes a simple contract debt, because it is of a higher nature. . . . But this effect never has been attributed to a sealed instrument which merely recognizes an existing debt, and provides a mode to ascertain its amount and liquidation.