Buck v. Reed

363 S.W.2d 479, 1962 Tex. App. LEXIS 2057
CourtCourt of Appeals of Texas
DecidedNovember 28, 1962
DocketNo. 11003
StatusPublished
Cited by1 cases

This text of 363 S.W.2d 479 (Buck v. Reed) is published on Counsel Stack Legal Research, covering Court of Appeals of Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Buck v. Reed, 363 S.W.2d 479, 1962 Tex. App. LEXIS 2057 (Tex. Ct. App. 1962).

Opinions

HUGHES, Justice.

This suit is on a promissory note dated August 31, 1953, in the principal sum of $9,300.00, executed by Glen Malcolm Shine and appellant T. W. Buck, Jr., payable to J. H. (Dude) Stelfox and secured by a chattel mortgage on one H. D. Allis Chal-mers tractor. The note and lien were assigned to appellee H. M. Reed. He sought judgment against Buck on the note for principal, interest and attorneys fees and foreclosure of the chattel mortgage lien. Mr. Shine was not sued.

In a nonjury trial appellee recovered judgment in accordance with his pleading.

Appellant plead that he “executed said note as a co-maker solely for the accommodation of Glen Malcolm Shine, without any past, present, or future consideration therefor to defendant, and J. H. (Dude) Stelfox knew and understood at the time of the execution of said note by Glen Malcolm Shine and this defendant that this defendant had not received and would not receive any consideration of any nature arising from such transaction but was purely án accommodation maker of said note.”

Appellee in his Original Petition filed February 7, 1955,- the only pleading filed by him, alleged, “That the whereabouts of said Glen Malcolm Shine are unknown and that after diligent effort plaintiff has been unable to locate him.”

The Court made the following conclusions of law:

“1. T. W. Buck, Jr., was an accommodation maker of the note described in Paragraph 1 of the Findings of Fact.'
“2. H. M. Reed was not a holder in due course of said note. • •
“3. H. M. Reed was entitled to- sue T. W. Buck, Jr., without joining Glen Malcolm Shine as a party to said suit.
“4. T. W. Buck, Jr., is justly indebted to H. M. Reed in the amount of $15,370.03 plus interest at the rate of ten per cent per annum until said debt is paid.”

The Court also made, among others, the followfing findings of fact:

“26. On February 7, 1955, the day this suit was filed, and for many months prior thereto the residence, of Glen Malcolm Shine was unknown to H. M. Reed, J. H. (Dude) Stelfox and T. W. Buck, Jr., and H. M. Reed used reasonable diligence prior to filing this suit to ascertain the residence of Glen Malcolm Shine but could not do so.
“27. On October 1, 1953, Glen Malcolm Shine was actually insolvent and such condition persisted to date this suit was filed.”

Appellee does not challenge the validity of conclusions of law 1 and 2, and we accept them as correct.

Appellant challenges finding of fact No. 26 on the ground that there is no evidence to support it, and that it is so against the weight and preponderance of the evidence as to be manifestly unjust.

[481]*481Appellant does not specifically challenge the finding that Shine was insolvent.1

Appellant Buck in executing the note to accommodate his co-signer, Shine, became liable to the payee of the note, Stelfox, as a surety on the note for his comaker, Shine. Ward v. Vaughan, 298 S.W.2d 862, Galveston Civil Appeals, and authorities therein cited.

Rule 31, T.R.C.P., provides that no surety shall be sued unless his principal is joined with him except in cases otherwise provided by law. This rule and relevant statutes are set out in Johnson v. J. R. Watkins Company, 337 S.W.2d 477, Austin Civil Appeals, and will not be copied herein.

The two exceptions involved here are that the residence of the principal Shine “is unknown and cannot be ascertained by the use of reasonable diligence” and that Shine is “actually insolvent.”

The burden was on appellee to plead and prove these exceptions. Johnson v. J. R. Watkins, supra. Insolvency was not pleaded, although appellee relies upon this' exception in his brief saying that appellant does not “complain of the finding of the Trial Court to the effect that Shine was actually insolvent from October 1, 1953, to the date this suit was filed.”

There is no evidence to support this finding for the reason that it conclusively appears that Shine was not insolvent within the meaning of this exception. The reason is that this is a foreclosure suit, and it is conceivable that the property sold will pay the debt, or at least part of it. This question was decided in Smith & Co. v. Ojerholm, 93 Tex. 35, 53 S.W. 341, the Court saying:

“ * * * Hence we think that it cannot be said that a principal is insolvent, within the meaning of that statute, when any part of the debt can be made by execution against him. Such is the construction given to similar statutes by other courts. * * * The term ‘insolvency’ has widely different meanings. When a trader is unable to meet his obligations in the regular course of business, he is technically said to be insolvent. Should we apply that meaning to our statute, the indorsee would, in some cases, be excused from suing the maker of the note although he might have ample property to satisfy an execution against him. It is in a case where the principal has property, but is not in a condition to meet his debts as they fall due, that the necessity is the more urgent to bring suit for the protection of the indorser. It cannot be said that a debtor is insolvent within the meaning of our law, as to his creditor, when he holds property against which the creditor may enforce a lien for the payment of the debt.”

With regard to the exception that the residence of Shine was unknown and could not be ascertained by the use of reasonable diligence, it is our opinion that the finding of diligence (No. 26) is against the weight and preponderance of the evidence.

Appellee testified that in August, 1954 he requested his attorney to attempt collection of the note in suit, and to try to locate Mr. Shine; that at that time he did not know where Mr. Shine was and did not know his whereabouts until this case was tried in December, 1961. He also testified that he requested Mr. Stelfox to help find Mr. Shine. What Mr. Stelfox did in this regard, he did not know.

Mr. Meyers, one of appellee’s attorneys made a statement into the record regarding this matter and was questioned about it as shown below:

“MR. MEYERS: What our office did was to write to Madisonville to un[482]*482dertake to locate Mr. Shine and addressed only to Madisonville and not to a specific address, since we did not have a specific address. We also got in touch with Mr. Stelfox, and when I have no idea, to find out whether he knew where Mr. Shine was, and of course we asked Mr-. Buck jn .his .dep-. osition if he knew, and if I recall he testified in 1960 that he had no idea, which was a year and a half ago, or about a year ago and at that time he had no idea where Mr. Shine was * *. •
“MR. POLLARD: May I ask him informally — -Mr. Meyers, did you make inquiry at the Courthouse here as to the address given on the check matter — the address given by Mr. Shine on the check matter ?
“MR. MEYERS: No, sir. At that time when I made the inquiry I did not know a complaint had been filed. I learned that in the deposition.
“MR.

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Related

Reed v. Buck
370 S.W.2d 867 (Texas Supreme Court, 1963)

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Bluebook (online)
363 S.W.2d 479, 1962 Tex. App. LEXIS 2057, Counsel Stack Legal Research, https://law.counselstack.com/opinion/buck-v-reed-texapp-1962.