Klaus v. Moore

Citations

• 77 Miss. 701

Syllabus

<p>1. Limitation of Aotious. Promissory note. Death of maker. Code 1893, ? 2753.</p> <p>Where the maker of a promissory note dies less than one year before the note is barred by limitation, the bar will not become complete, under code 1892, so providing, until on© year after his death.</p> <p>2. Same. Apparent bar. Code 1892, § 2462. Laws 1896. p. 106.</p> <p>Tlie provisions of code 1892, § 2462, amended (Laws 1896, p. 106), providing' that if a lien appear by the record thereof to> be harred by limitation the lien shall cease as to creditors and subsequent purchasers for valuable consideration without notice, unless within six months after the remedy is so barred the fact of its renewal or extension be made of record, does not operate to prevent an exténsion under code 1892, \\ 2753, providing therefor, if the debtor die before the debt is barred.</p> <p>3. Same.</p> <p>The provisions of code 1892, § 2462, amended (Laws 1896, p. 106), supra, can be invoked only by creditors or subsequent purchasers for a valuable consideration without notice who- parted with something of value on the appearance of the record.</p> <p>4. Statute oe Fbauds. Trusts. Code 1892, 14231.</p> <p>The assignment of a promissory note, secured by a recorded lien, although the lien be transferred as an incident of the debt, is not within the statute of frauds, code 1892, § 4231, requiring grants, assignments or transfers of any trust or confidence to be in writing.</p>