Proctor v. Hart

Citations

• 72 Miss. 288

Syllabus

<p>Limitation. Right extinguished. New note. Revival of vendor’s lien. Code 1893, l 3755.</p> <p>Under ?¿ 3755, code 1893, providing that the completion of the period for barring an action extinguishes the right as well as the remedy, but the former legal obligation- shall be a sufficient consideration to uphold a new promise based thereon, where a note for land, in which a vendor’s lien is reserved, is barred, the giving of a new note does not revive the lien or create a new lien, although the new note recites that it is for the purchase price of land ‘ ‘ on which a vendor’s lien is retained,” and “in lieu of, and in renewal of,” the old note.</p>