Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-02-09

ana TO actions commenced within due
time, in which Judgment for the plain
tin was arrested or reversed uptn Il
ground which does not preclude new
action for the same cause, and provide;
that new action or SUIT may he
brought within one year after such
abatement or arrest, or reversal Of
judgment The court holds all these
terms inapplicable to SUITS in equity.
The court regrets having II affirm The
judgment of the lower court and adds,
"lta lex scripta est
LYNCHBURG CASE.
Wright VS.. Independence National
Bank. of Lynchburg, involved several
points of the law of negotiable paper.
w. Il. Roberts gave his note, payable
to III. ID. Wright or order at the Trad
ers' Bank. Wright endorsed it to the
bank and 1t was endorsed to and held
by the Independence Bank. with other
notes, as collateral To secure the pay
ment of note due ii from the Trad
ers' Bank. After the Independence
Bank had brought actions 1T law on
the notes held as collateral. including
the note sued on. the bank made a
verbal contract with the Traders Bank
by which ii was agreed that If the lat
ter would curtal its note to $1,000 the
plaintiff (the Independence Bank)
would allow the Traders Bank to give
new note for that sum. payable in
thirty days, and dismiss all the suits
upon the collaierals upon payment of
court costs and attorneys fees. The
terms were complied with by the de-
PENDANT.
The chief question considered by
Judge buchanan, who prepared the OPP
lnion, Is whether an agreement for in
diligence, which viii discharge or re-
lease the first endorser. can he made
with any other person than the maker
OF the note, or principal debtor The
court holds that it cannot. In cOnclu-
sion the opinion says: "The agreement
relied on in this case having been made
between the holder of the note (the
PLANTING and the last endorser upon 1t.
did not prevent the first indorser CHE
defendanD from paying the debt and
proceeding ut once against the maker.
or from exercising any rights which Il
surety may assert for his protection
against his principal The agreement
did not discharge the first endorser
from his liability OH the note and fur
nished no defence against the plaintiffs
rccnXerX." Tho iudgmemi of the lower
court is affirmed.
FROM HALIFAX.
on September p. 1892. G. Il. Ballou
conveyed to X. w. Lawson. trustee. Il
certain mill property TO secure the
Bank of South Boston s. 1000. The deed
was not recorded until April "A, 1898.
ON April H. 1899. &. T.. BalIou convey
Ell the same property TO j. NJ. CARING
ton and II. J. Watkins, trustees. 10 Sc
cure numerous creditors. This last deed
Was recorded April -. 1893, one day be-
Tore the deed given to Lawson. In
short time Darlington ana Watkins
proceeded to execute their deed by adj
Vertsing the property for sale. ON
May L. 1872 an injunction stopping the
sale was issued upon the ground that
Darlington and Watkins had notice of
the deed for the benefit of the appel
lees. tho Bank of South Boston, and
that therefore neither they nor the
benellcaries under their deed had ac-
quired priority over appellee by its re-
cordation. The court held that the
henciic,aries under the Darlington ana
Watkins deed took in subnrdination 10
the Bank of South Boston. The case
comes up on appeal from the Circuit
Court of Halifax county. and Judge
Harrison writes an opinion that sus-
iains the decree of the lower court.
After Il lengthy discussion nj the duties
and powers Of trustees. and the rights
of creditors, the opinion says: "Un-
der the settled law of this state Car
ringtpn and Watkins case, under the
deed In question. purchasers for value
and under the facts proven they are
purchasers with notice, for they We're,
confessedly. at The time of The oxecu-
,hhn, I'm mn, VIZ ''nr oA ,"e ue'u ~
'.1"ii t"'N oSSesaeu o. we Id'il
the second deed subordinate to the
first"
Several other points Of the law of
deeds with reference to the priority of
recordation are discussed.
The act of the LEGISLATURE (acts 1885,
is thot this aci T.. ,er i ii ion,Tmtion
and va)idatine siatmta ana tb,, i, ,,.a,
i'm the newer If Tia i,c,isiat,,,.n - NIL,
If rntraec,iva 60 ,'. - ,s,'. 'aS 10 lihe
in ~ "aonrd, fion - - ~ WY, -, ""I "giecl
,H o'e iec ',i t, 81 me ueeh IN cues
- 800, ".'S'''' "a w ~"