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WACHOVIA BANK & TRUST CO. v. SMITH CROSSROADS, INC.

No. 393.

129 S.E.2d 116 (1963)

258 N.C. 696

WACHOVIA BANK AND TRUST COMPANY v. SMITH CROSSROADS, INC., and E. L. Smith.

Supreme Court of North Carolina.

February 1, 1963.

Attorney(s) appearing for the Case

Ted G. West and W. C. Palmer, Lenoir, for defendant-appellants.

Womble, Carlyle, Sandridge & Rice by W. P. Sandridge and C. F. Vance, Winston-Salem, for plaintiff-appellee.

RODMAN, Justice.

The note was negotiable in form. Prima facie it was issued for valuable consideration. G.S. § 25-29. It was also under the seal of each of the parties. This created a rebuttable presumption of consideration, Mills v. Bonin, 239 N.C. 498, 80 S.E.2d 365. Defendants had the burden of proving their defense of want of consideration; but the verdict was in response to a peremptory...

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