13 Wend. 267 | N.Y. Sup. Ct. | 1835
By the Court,
The statute begun to run at the date of the notes, they being then due and collectable by suit. Chitty on Bills, 374. Bull. N. P. 151. The demand is not parcel of the contract, but is used to show that the debt is due. There are eases where the note is payable at a certain time, as, one month after demand,in which it has been decided that the statute does not run until the time has elapsed after demand made; but in such cases it is obvious, from the terms of the contract, an actual demand was contemplated by the parties before the note should become due. The giving of the note for the interest due upon the demands in question was an acknowledgement of the debts, sufficient to raise a promise to pay, and to take the notes out of the operation of the statute. 17 Johns. R. 182. 2 Campb. 321. The six years, then, elapsed 4th September, 1832, and the suit was commenced 26th September, 1833, one year and twenty-two days after the statute attached. The first ground relied on by the plaintiffs below to take the case out of the operation of the statute is, that on the death of Carter, on the 10th July, 1832, the running of the statute ceased until administration was granted, on the 5th October, 1832, and that then the administrator
The revised statutes, 2 R. S. 448, § 8, provide that the term of 18 months, after the death of any testator or intestate, shall not be deemed any part of the time limited by law for the commencement of actions against executors or administrators. It is urged, by the counsel for the plaintiff in error, that this section has reference to the 34th section, page 298, which provides for a fresh suit within one year, against heirs, executors and administrators, where the defendant dies pendente lite; the effect of which construction would be to give to a plaintiff in such cases two years and six months, after letters testamentaiy or of administration granted, within which to bring a suit. It is certainly very difficult, according to this view of the statutes, to comprehend the importance of section 8, page 448, or to discover any reason why the legislature did
The stock was received by the plaintiffs as collateral security, and there is nothing in the case changing the character of the transaction from that given to it by the contract of the parties.
Judgment affirmed.