Costner v. . Fisher

Supreme Court of North Carolina
Costner v. . Fisher, 10 S.E. 526 (N.C. 1889)
104 N.C. 392
Shepherd

Costner v. . Fisher

Opinion of the Court

*393 Shepherd, J.

— after stating the facts: His Honor was clearly right in holding that the account was merged in the bond. Gibson, C. J., in Jones v. Johnson, 3 Watts & Sergt., 277, says: “Extinguishment by merger.takes place between debts of different degrees, the lower being lost in the higher, and, being by act of law, it is dependent on no particular intention * * * No expression of intention would control the law which prohibits distinct securities of different degrees for the same debt, for no agreement would prevent an obligation from merging in a judgment on it, or passing in rem judicatura. Neither would . an-agreement, however explicit, prevent a promissory note from merging in a bond given for ihe same debt by the same debtor, for, to allow a debt lo be at the same time of different degrees, and recoverable by a multiplicity of inconsistent remedies, would increase litigation, unsettle distinctions* and lead to embarrassment in the limitation of actions,” &c. This high authority fully sustains the ruling of'-his Honor.

Even if there were no merger, the taking of the bond, payable at a certain time, implies an agreement to suspend his remedy on the account for that, period. 2 Dan’l Neg. Ins., 1272; Putnam v. Lewis, 8 Johns, 389; Frisbie v. Lerned, 21 Wend., 450, and other cases cited in Bank v. Bridgers, 98 N. C., 67.

Affirmed.

Reference

Full Case Name
T. F. Costner v. J. W. Fisher.
Status
Published