Cases Argued and Decided in the Supreme Court of Mississippi Volume 2
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1839 edition. Excerpt: ...the endorser or makers. The remedy against the surety might be released, without releasing the principals, Stevens 8; Pillet. It is not easy to see how Stevens & Pillett could have resisted a suit brought by W'est alone, if he had been the sole purchaser of the note from the endorser. They could claim no contribution from him, for his signature was expressly as security on the face of the note. His own liability would have been merged by such a purchase, but there is no good reason why the principals should not be liable to him as an endorsee. There would be no conflict or inconsistency in such case, between his right to sue as an endorsee, and his right to claim an account for money paid, laid out and expended. But the note was purchased by West 81 Hamilton, and not by West alone. West 8t Hamilton constituted an artificial person in law, distinct from the identity of either of them. The purchase by them of the note, for full value, not only did not release Stevens 8: Pillet from their liability on the note, it did not even release West himself. If West & Hamilton had sued the payee, who was the endorser to them, she could certainly have sued Stevens & Pillett, or West, or both, on the note. West 8t Hamilton must be considered as standing precisely in the place of the payee, and were clothed with all her rights. Their liabilities would also have been the same, had they endorsed it over to some third person. Again, if the note had been originally made by West alone, to West & Hamilton, they could have maintained their action against him. One partner may execute his note or bond to the firm of which he is a member, for any liquidated amount, and he will be liable on such note or bond, either to the firm, or any subsequent...
- Paperback | 196 pages
- 189 x 246 x 11mm | 358g
- 13 Sep 2013
- Illustrations, black and white