Loudermilk v. Loudermilk
Loudermilk v. Loudermilk
Opinion of the Court
Judgment reversed.
J. M. Loudermilk sued T. A. Loudermilk as principal, and Jacob Loudermilk as indorser, on a promissory note made by T. A. Loudermilk, dated January 16th, 1888, due January 1st, 1889, payable to Jacob Louder-milk, for $350. The note bore a credit for $150, dated June 11th, 1891, and was indorsed thus: “ I hereby endorse the within note to J. M. Loudermilk,” which endorsement was signed by Jacob Loudermilk. The court on motion struck the pleas other than that of general issue filed by the defendants, and entered up judgment for the plaintiff against the defendants for $259.83 principal, $31.78 interest, and further interest at 7 per cent. To both rulings the defendants excepted. The special pleas are as follows :
T. A. Loudermilk says the note is non-negotiable, and was a gift from his father Jacob Loudermilk, for the sum of $200, which gift was made February 22d, 1892, and it was expressly stated by both defendant and Jacob, before the gift was made, that the note was to draw no back interest and that at said time only $200 was due thereon, and the gift was received by the plaintiff with the conditions aforesaid. Further, on August 9th, 1892, this defendant tendered to plaintiff $206.60 as the full amount of the principal and interest due on the note, which tender was bona fide and was and is continuous.
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