Perry v. Ellis

Citations

• 62 Miss. 711

Syllabus

<p>1. Limitation of Actions. Payment of interest or part of principal of debt.</p> <p>Neither the payment of annual interest on a debt nor a part of the principal thereof has any effect upon the operation of the statute of limitations of this State.</p> <p>2. Same. Verbal acknowledgment or new promise. Written obligation for forbearance.</p> <p>A debtor’s verbal acknowledgment of a debt or new promise to pay the same does not interfere with the running of the statute of limitations, even where the creditor, upon a “ sufficient consideration,” obligates himself in a writing signed by him to postpone the collection of the debt for a certain period, and to forbear the use of any means to enforce payment thereof during such period.</p> <p>3. Same. Operation on note and trust-deed of decedent. Absence of heir.</p> <p>The operation of the statute of limitations upon a promissory note secured by a deed of trust on lands belonging to the maker of the note and grantor in the deed is not affected, after the death of such maker and grantor, by the absence of his heir from this State, the right of action on the note being against the legal representative of the deceased debtor; and if the statute be permitted to bar action on the note it also bars suit to enforce the trust-deed against the land descended to the absent heir.</p> <p>4. Same. Par by contract of forbearance. Payment of interest by heir. Estoppel.</p> <p>Nor is the heir in such case estopped to plead the statute of limitations by the fact that the payee in the note and beneficiary in the trust-deed, in consideration of payment by the heir of annual interest on the note, agreed not to enforce payment of the principal until after the lapse of a certain period, during which the right of action became barred, the payment of interest having been made without any legal obligation on the heir to pay either the debt or interest thereon.</p> <p>•5. Same. Form of plea in chancery. Accuracy.</p> <p>A plea of the statute of lim