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Luther A. Harr. Receiver of Bankers Trust Co. v. Dubois

Decided: April 25, 1941.

LUTHER A. HARR. RECEIVER OF BANKERS TRUST COMPANY OF PHILADELPHIA, RESPONDENT,
v.
JOSIAH E. DUBOIS, INDIVIDUALLY AND TRADING AS DUBOIS LUMBER COMPANY, APPELLANT



On appeal from the Supreme Court.

For the appellant, Louis B. LeDuc.

For the respondent, Samuel P. Orlando.

Bodine

The opinion of the court was delivered by

BODINE, J. A suit was brought to recover the amount due on eighteen promissory notes. All but two were abandoned as barred by the statute of limitations. There was a nonsuit as to another and a judgment for the face amount of one note upon which the following endorsement appeared:

8/18/31 pd. on a/c $500

12/7/31 pd. on a/c 250

4/8/32 pd. on a/c 100

4/14/32 pd. on a/c 100

9/20/32 pd. on a/c 100

The receiver's book of receipts showed merely that the first payment was by a check on an Ocean City bank; the second and third by checks on an Atlantic City bank; the fourth by a check on the First National Bank of Blackwood, and there was no description at all as to the last. Payment to take a note out of the statute must be proved to have been made by

the payor. When the note is barred, a statement made by the payee of payment is a self-serving declaration; otherwise, if the statute has not run. The endorsement of payment on the note was not sufficient to take the case out of the statute of limitations. N.J.S.A. 2:24-9-10. Similar statutes exist in England, Canada, and most of the states of the Union. The purpose is to save the creditor ...


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