Commercial National Bank of Charlotte v. Carson

177 S.E. 335, 207 N.C. 495, 1934 N.C. LEXIS 502

Opinion

Peb Oubiam.

Tbis is an appeal from a judgment awarded the plaintiffs upon the pleadings, and presents but one question, namely: Where the payee of a bond has dealt with a person, who, for valuable consideration, assumed the payment of the debt by accepting* from him partial payments on the bond and extending the time of the payment thereof without knowledge of the makers, is the character of the makers, as between the payee and the makers, changed from that of principals to that of guarantors? This question is answered in"the negative upon the authority of Brown v. Turner, 202 N. C., 227.

The present judgment does not preclude the defendants from proceeding in this action against him who is alleged to have assumed the payment of the bond, or to foreclose the deed of trust given to secure it, or to obtain any other relief to which they may be entitled against those whom they have had made parties thereto.

Affirmed.