Mordecai v. Stewart
Mordecai v. Stewart
Opinion of the Court
The awarding of a new trial in this case makes it unnecessary to decide the question of continuance moved by plaintiff in error.
As this cause does not come up upon a motion for a new trial, and refused, which would have opened it to the consideration of other questions connected with it, our adjudication is confined to what we deem an error in the presiding Judge’s
It seems to be a very clear principle, that where parties make an agreement, by which one pays and the other receives a certain amount, and which amount is credited on a promissory note, the note is satisfied or discharged only pro tanto, that is to the extent of the amount so paid, and that the remainder due on the note stands unaffected by the entry of such partial payment.
The amount thus credited cannot be enlarged, in the absence of any agreement of the parties, so as to extinguish a greater nominal amount of the note than the amount specified in the credit entered on the note. To make the above idea more explicit, we hold that in this case the credit of $15,325 extinguished that amount only of the note, leaving the remainder due on the note, after this allowance, in nowise affected by such payment.
Judgment reversed.
Reference
- Full Case Name
- Benjamin Mordecai, in error v. James Stewart, in error
- Status
- Published