Opinion · Supreme Court of North Carolina

Bank of Newbern v. Pugh

9 N.C. 389

Type
Opinion
Court
Supreme Court of North Carolina
Jurisdiction
North Carolina
Date
1823-06-05
Topic
general

This case was before this Court, Bank v. Pugh, 8 N.C. 198. It appears from the statement that on the new trial which took place *Page 218 pursuant to the former decision of this Court, Marcus C. Stephens, the cashier of the bank, stated as follows: That David Smith was at the time of his death a large debtor to the bank; the president of the bank, after a consultation with the directors, informed Mooring, the administrator of Smith, that he was at liberty to take bonds with good securities from the purchasers, at the sale of Smith's effects, payable to the said president and directors, and that they would receive such of the bonds as they should approve in payment of Smith's debt; that the bond now sued on was one of those taken in pursuance of such agreement, and was offered to the bank by Mooring in satisfaction of one of his intestate's notes, and the bank refused to receive it, and the cashier, by direction of the bank, returned it to Mooring to do with it as he pleased. Stephens further stated that the bank refused to receive the bond when offered by Mooring as above, because it was not thought to be as well secured as Smith's note, in lieu of (390) which it was offered, but it had indulged Mooring for a portion of his intestate's debt, awaiting the result of this suit.

Citator

UpLaw has not yet analyzed Bank of Newbern v. Pugh. The absence of a flag is not a finding that it is good law.

Cited by
1 opinion