Citizens National Bank v. Manoni

Citations

• 76 Va. 802
• 1882 Va. LEXIS 82

Syllabus

<p>1. Principal and Surety— Constructive notice—Laches—Release of surety— Case at bar.—Creditor company buys of its debtor property, in part payment delivers to him the note which is the evidence of the debt, and for balance pays him the cash. It turned out there were on the property docketed liens, and it was sold to pay them. Of those liens the company had constructive notice, and but for the grossest laches, might have had actual knowledge.</p> <p>Held :</p> <p>The company cannot be allowed to contend that the note was delivered up under mistake and remains unpaid, and for its payment pursue the surety, or the property of the surety, which had been conveyed in trust to secure payment of the note.</p> <p>2. Registration—Notice.—Under the Code of this State the regular docketing of judgments gives constructive, but in law conclusive notice thereof to all the world.</p> <p>3. Judicial Sales—Costs—Fees of counsel.—When property is sold under decree of court to satisfy liens thereon, out of the proceeds must be paid the taxed costs, but not more than the legal fee to the plaintiff’s counsel. If an allowance beyond the usual fee, for counsel representing the creditors, be proper, and it be paid out of the proceeds, it should be credited ratably on the liens, so as not to tax the debtor with it.</p>