Cowen v. . Williams

Stacy, C. J., after stating the case: It would seem that the plea of nudum pactum is not open to the defendant, Lucy Williams, as against the plaintiff, who is a holder in due course of the note sued on. Hence the instruction, above set out, which forms the basis of one of the plaintiff’s exceptions, we apprehend, should be held for error. Angier v. Howard, 94 N. C., 27. A note under seal imports consideration, and it is presumed from the use of a seal, that the consideration is good and sufficient. Harrell v. Watson, 63 N. C., 454; Wester v. Bailey, 118 N. C., 193, 24 S. E., 9; Moose v. Crowell, 147 N. C., 551, 61 S. E., 524; Burriss v. Starr, 165 N. C., 657, 81 S. E., 929. See, also, Barbee v. Barbee, 108 N. C., 581, 13 S. E., 215. For the error, as indicated, a new trial must be awarded; and it is so ordered. New trial.