Coggins v. Stockard
Mississippi Supreme Court
Coggins v. Stockard, 64 Miss. 301 (Miss. 1886)
Campbell
Coggins v. Stockard
Opinion of the Court
delivered the opinion of the court.
As it is indisputable that- the appellant got the benefit of the means which procured the credit on the note in the subsequent contract he made with the appellee for a rescission of their land trade, it' is impossible to conjecture on what theory of law or right he can deny the propriety of the erasure of these credits. There was an effectual obliteration of them in the very act of rescinding the sale of land on the terms agreed on. Manifestly, they were properly erased, and had there been no lines drawn across them a disclosure of the facts should have forced the just result reached. Any other would have been intolerable.
Affirmed.
Reference
- Full Case Name
- J. G. Coggins v. J. J. Stockard
- Status
- Published
- Syllabus
- PROMISSORY Note. Payments indorsed thereon. Erasure thereof. Case in judgment. S. sold land to 0. and took his promissory note for the purchase-money. He also sold mules to C., and took his note for four hundred and fifty dollars therefor. C. collected as rent of the land forty hales of cotton, and turned the same oyer to S-, who indorsed the amount of the proceeds as payments on the four hundred and fifty dollar note. Afterward S. and C. agreed to rescind the land trade, the former to retain the proceeds of the cotton he had received. Thereupon'S. gave C. his land-note, and erased the indorsement of payments entered on the four hundred and fifty dollar note. Held, that C. had a right to erase such indorsement, and a judgment on such note for its value without crediting the payments so erased is correct.