Avent v. McCorkle

Citations

• 45 Miss. 221

Syllabus

<p>1. Vendor’s bien—extinguished-when debt is barred. —The vendor’s lien is an incident of the debt, and is extinguished when the debt is barred.</p> <p>3. Same—revivad oe debt barred bt bimitations does not revive bien, as against creditors.—The lien, once extinguished by the debt being barred, will not be held révived, as against a subsequent judgment creditor of vendee, by a mere promise in writing, reviving the debt.</p> <p>3. Same—presumption prom renewab op note bearing higher rate op interest—case in judgment. — Where a vendor held a promissory note for a part of the purchase-money of land, unenforced for seventeen years, and then took a sealed note, with an agreement that it should bear a greater interest for the debt, it ia presumed that he intended to waive the vendor’s lien; there being nothing in the transaction indicating the purpose of the parties to continue the lien.</p>