Atcheson v. Scott

Citations

• 51 Tex. 213

Syllabus

<p>1. Confederate war, close of.—A promissory note, “payable twenty-four months after the ratification of a treaty of peace between the United States and the Confederate States of America, with eight per cent, interest from date, in whatever may then be the legal tender of the country,” executed June, 1862, was valid, and became due two years after the close of the war, and was payable in United States currency.</p> <p>2. Overruled.—Thompson v. Houston, 31 Tex., 610.</p> <p>3. Novation—Trust—Notice.—The rule that an administrator or trustee cannot make a novation of an old debt by accepting in lieu thereof another obligation, without authority of a court having jurisdiction over trusts, &c., is subject to the rules governing negotiable paper; and an administrator holding a note payable to himself could accept in lieu thereof the obligation of another, such other being ignorant of the trust nature of the debt.</p> <p>4. Same.—Proceedings to disregard a novation made by a trustee of commercial paper, should allege notice in the other party to such contract.</p>