Case Name: Foster, executor, v. Cochran, administrator
Court: Supreme Court of Georgia
Jurisdiction: Georgia
Decision Date: 1892-06-20
Citations: 89 Ga. 466
Docket Number: 
Parties: Foster, executor, v. Cochran, administrator.
Judges: 
Reporter: Georgia Reports
Volume: 89
Pages: 466–467

Head Matter:
Foster, executor, v. Cochran, administrator.
1. According to tlie general tenor of judicial opinion inferable from, several cases in the Georgia Reports, a credit upon a promissory-note entered by a duly authorized agent of the maker, and signed by the agent in the name of the maker, will operate as a new promise under sections 2934, 2935, of the code, and the statute of limitations will run only from the date of such credit.
2. Inasmuch as an agent’s authority to execute a promissory note in the name of his principal need not be in writing, the authority to renew or extend such note by a new promise need not be' in writing, but may be created verbally and proved by parol evidence. The case of Watkins v. Harris, 83 Ga. 680, relates to an unsigned credit, and therefore does not apply to the credit involved in the present case.
June 20, 1892.
Limitation. Promissory note. New promise. Agent. Evidence. Before Judge Jenkins. Greene superior court. September term, 1891.
The action of F. C. Foster, executor of A. G. Foster, against A. P. Cochran, administrator of 'William Neal, on a promissory note, was dismissed on demurrer because the declaration showed that the suit was barred by the statute of limitations. The note is signed by William Neal not under seal, is payable to A. G. Foster or bearer, and is dated August 1,1876. Entered thereon under the date February 11, 1882, is a statement-signed by William Neal, recognizing the validity of the note and promising to pay the amount due thereon; also this entry: “ Paid this day on this note $860, April 5, 1887. (Signed) Wm. Neal, by Cochran.” This suit was filed on February 11, 1891. By amendment the plaintiff alleged that the original liability on the note was revived and extended by a credit of payment made and entered thereon April 5, 1887, under the direction and by the authority of William Neal; and that A. P. Cochran, acting as agent of William Neal, signed his name to said credit, and as such agent was duly author ized (not in writing) by William Neal to make said signature.

Opinion:
Judgment reversed.
F. C.'Foster and H. G-. Lewis, for plaintiff.
Barrow & Thomas and II. T. Lewis, for defendant.