First American Savings & Trust Co. v. Low

Citations

• 23 Haw. 696

Syllabus

<p>Limitation of Actions — acknowledgment of debt — promise to pay.</p> <p>A clear, definite and unqualified acknowledgment made by the maker of a promissory note, after the statute of limitations has run against it, that the note is a yalid and subsisting obligation for which he is liable will give rise to an implied promise to pay it.</p> <p>Same — giving security or substituting collateral.</p> <p>iThe giving of security or the substituting of collateral to secure payment of a note is a sufficient acknowledgment to remove the bar of the statute.</p> <p>Same — acknowledgment made to stranger.</p> <p>An acknowledgment made to a mere stranger, where it is not shown that it was made with the intent on the part of the debtor that it should be communicated to the creditor, nor that it was in fact communicated to him and lulled him into inaction, is ineffective to remove the bar.</p>