National Bank v. Gunhouse & Co.

Citations

• 17 S.C. 489
• 1882 S.C. LEXIS 90

Syllabus

<p>1. A mortgage to secure future advances is postponed to a mortgage of later date given for a present consideration, as to all indebtedness contracted under the security of the first mortgage after notice had by the first mortgagee of the second mortgage.</p> <p>2. In cases of equitable cognizance the findings of fact by a Circuit Judge, deduced from testimony taken orally before him, or from evidence submitted in writing, will not be disturbed unless clear error is shown by reason of an entire absence of evidence to support such findings, or because the manifest weight of the testimony -in the cause is the other way ; and the burden of showing this is upon the appellant.</p> <p>8. The indebtedness of the drawer of bills of exchange, which are accepted by the drawees for accommodation only, is not a contingent, but a primary liability.</p> <p>4. Renewal notes are not payment unless it is shown by the party alleging payment that there was an express agreement that they should be so received, or unless they produce payment.</p>