Walkup v. . Houston

65 N.C. 501

• Court: Supreme Court of North Carolina
• Decided: June 5, 1871
• Status: Published

Opinion

Dick, J.

The meaning of a contract is a question of law, which must be determined by the Court. In the construction of contracts, the first point is to ascertain what the parties themselves meant, but no construction ought to be adopted which will do violence to the rules of language, or to the rules of law. The parties to this contract agreed that it ivas to be .paid in sjpeoie. The meaning of this word is well understood to be metallic money issued by public authority, and it is generally used in contradistinction to paper money.

In this country there are two kinds of money established by law, i. e., coin and treasury notes. They are both made a legal tender in the payment of prívate debts; but they have a different value in the financial market. This fact was well understood by the parties when' this express contract for sjpeoie was executed. The terms of the contract were not waived when the payments were subsequently received in greenbacks and currency, and so expressly endorsed on this note. These endorsements were thus specifically made for the purpose of ascertaining the specie value of the payments on a subsequent settlement. The payments only discharged the contract to the amount of their specie value at the date of payment. The manner of ascertaining the value of the contract and entering judgment, is explained in Mitchell v. Henderson, 63 N. C. 643.

There was no error.

Per Curiam. Judgment affirmed.