Fambro v. Keith
| Decision Date | 27 October 1909 |
| Citation | 122 S.W. 40 |
| Parties | FAMBRO v. KEITH. |
| Court | Texas Court of Appeals |
Appeal from District Court, Shelby County; James I. Perkins, Judge.
Action by P. P. Keith against F. W. Fambro. From a judgment for plaintiff, defendant appeals. Reversed and remanded.
D. M. Short & Sons, for appellant. Bryarly, Carter & Walker, for appellee.
Appellee sued appellant on a promissory note, alleging that the note was made to him on February 21, 1903, by James T. Polley and F. W. Fambro for the sum of $204.50, payable 30 days after date, with interest from date at the rate of 10 per cent. per annum; that, while the note was signed by each maker as a principal, as a matter of fact Polley was the principal and Fambro his surety thereon; that since the note matured, and before the institution of the suit, Polley died, leaving his estate insolvent. The defendant, Fambro, answered by a general denial, and pleaded specially: (1) That he signed the note as an accommodation surety at the request of Polley, and upon the representation, made him by plaintiff when such request was made, that the note would never be enforced against him, and that he relied upon and was induced by such representation to place his signature to the instrument; and (2) that after the note matured the plaintiff, without his consent, in consideration of an agreement made with him by Polley to pay the interest accruing thereon, extended time of payment of the note for 30 days, and that by reason of such agreement and extension defendant was discharged from further liability. Exceptions to both special pleas were sustained, the case was tried by jury, and judgment rendered against the defendant for the amount, principal and interest, due.
That the first special plea offered no defense to the action is too obvious for discussion. It involves the absurdity that an oral promise of the payee to the payor, made when a note is executed, not to enforce its payment, destroys the obligation evidenced by a written instrument. But there is music for the appellant in the other special plea; for it is held in this state that the extension of an interest-bearing debt, upon an agreement of the parties, based on a consideration, for a definite period, is, in effect, a contract that the creditor will forbear suit during the time of extension, and that the debtor forego his right to pay before the expiration of that time; that such agreement is a contract based upon a valuable...
To continue reading
Request your trial
-
First State Bank of Eckman, a Corp. v. Kelly
...86; Crooker v. Hamilton, 3 Ga.App. 190, 59 S.E. 722; Commonwealth Trust Co. v. Coveney, 200 Mass. 379, 86 N.E. 895; Fambro v. Keith, 57 Tex. Civ. App. 302, 122 S.W. 40; Gerli v. National Mill Supply Co., 78 N.J.L. 1, A. 252; Dickson v. Harris, 60 Iowa 727, 13 N.W. 335; Chapman v. Chapman, 1......
-
Central Nat. Bank v. Lawson
...on to pay the note and Dolson v. De Ganahl, 70 Tex. 620, 8 S. W. 321; Denman v. Kaplan (Tex. Civ. App.) 205 S. W. 739; Fambro v. Keith, 57 Tex. Civ. App. 302, 122 S. W. 40; and Hendrick v. Chase Furniture Co. (Tex. Civ. App.) 186 S. W. 277, are cited in support of that proposition; but in a......
-
Remy v. Sayeg
...Grocer Co. v. Clarke (Tex. Civ. App.) 91 S. W. 882; Wright v. Deaver, 52 Tex. Civ. App. 130, 114 S. W. 165; Fambro v. Keith, 57 Tex. Civ. App. 302, 122 S. W. 40; Matthews v. Towell (Tex. Civ. App.) 138 S. W. 169; Manes v. Bletsch (Tex. Civ. App.) 239 S. W. 307, 308; Howth v. Case (Tex. Civ.......
-
Poythress v. Ivey
...wit, Casey-Swasey v. Anderson et al., 37 Tex. Civ. App. 223, 83 S. W. 840, Carter-Battle Co. v. Clarke, 91 S. W. 882, Fambro v. Keith, 57 Tex. Civ. App. 302, 122 S. W. 40, Wright v. Deaver, 52 Tex. Civ. App. 130, 114 S. W. 165, and others, in which a parol agreement by the principal, withou......