Coggins v. Stockard

Citations

• 64 Miss. 301

Syllabus

<p>PROMISSORY Note. Payments indorsed thereon. Erasure thereof. Case in judgment.</p> <p>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.</p>