Case ID: va_1/html/0360-01.html
Source: Caselaw Access Project
Author: {"author": "The PRESIDENT", "license": "Public Domain", "url": "https://static.case.law/"}
Date Created: 2024-08-24T03:29:51.129683

Pleasants v. Bibb.
    April Term, 1791.
    Bonds — Scale of Depreciation.* — Bond dated 1st of February, 1780, payable on or before the 17th. of December, 1781, and to carry interest from the 16th of February, 1779. These latter words, with other circumstances, will fix the period, at which the scale of depreciation ought to be applied, to February, 1779.
    This was an action of debt brought in the County Court of Prince Edward by the appellant upon a bond bearing date the 1st of February 1780, with condition to pay ¿105 9 2£ on or before the 17th of December 1781, with interest thereon from the 16th of February 1779. Upon the plea of payment, the parties consented to submit the trial of the cause to the Court without a jury.
    The Court upon a view of the bond, together with sundry exhibits (all made part of the record) were of opinion that the scale of depreciation ought to be fixed to the 16th of February 1779, and so the judgment was entered, from which Pleasants appealed.
    This judgment was reversed in the District Court of Prince Edward, and entered for the debt in the declaration mentioned, to be discharged by the payment of ¿2: 6: 10}4 specie, the value of the sum due, reduced according to law, with interest from the 16th of February 1779. From this judgment Pleas-ants appealed.
    
      
      Bonds — Scale of Depreciation; — On this question tile principal case is cited in Gilkeson v. Smith, 15 W. Va. 60; Bierne v. Brown, 10 W. Va. 761; Dearing v. Rucker, 18 Gratt. 465 (see note); Bogle v. Vowles, 1 Call 246 (see note). See also, Hill v. Southerland, 1 Wash. 128; Skipwith v. Clinch, 2 Call 253, and note-, monographic note on “Bonds” appended to Ward v. Churn, 18 Gratt. 801.
    
   The PRESIDENT

delivered the opinion of the Court.

The single question upon this record is, at what period the scale of depreciation should be applied to the bond upon which the judgment was rendered.

The bond was dated on the 1st of February 1780 with condition for payment on the 17th of February 1781, with interest from the 16th of February 1779, thereby indicating, if not expressing, that the debt arose on the day last mentioned, though not reduced to a specialty until the year 1780. The record also contains letters from the obligor, shewing the debt to have arisen on account of money lent at different times in the'year 1779.

Upon the bond and those circumstances, the County Court very properly decided that the debt arose in February 1779 and was to be scaled ás of that period. The^ judgment of the District Court which considered the date of the bond as the proper period for scaling, is therefore erroneous, and must be reversed, and that of the County Court affirmed.