Copeland v. . Collins

Citations

• 30 S.E. 315
• 122 N.C. 619
• 1898 N.C. LEXIS 316

Syllabus

<p>Action on Note — Evidence—Statutes of Another State — • Interest — Usury—Statute of Limitations — Payment on Note — Administrator.</p> <p>1. Whether a contract is usurious is a question to be determined by the laws of the State where the contract was made.</p> <p>2. A printed copy of a statute of another State contained in a book purporting to have been published by the authority thereof is admissible to prove the existence of such statute. (Section 1338 of The Code.)</p> <p>3. A partial payment by the maker of a note keeps the note in force against a surety for three years after such payment.</p> <p>4. When the statute of limitations begins to run against a right of action it is not arrested by a change in the condition of the parties, such as the death of the debtor and lack of administration on his estate.</p> <p>6. A payment on a note does not “ stop ” the running of the statute of 'limitations, but is only a renewal of the obligation and fixes a new date from which to make a computation of time; and, hence, where a surety to a note was deceased at the time of a partial payment by the principal and no administrator had been appointed, the statute of limitations ran from the time of such payment and not from the qualification of the administrator.</p> <p>Faircloth, G. J., and Clark, J., dissent.</p>