Cases on Suretyship

Cases on Suretyship

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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. 1910 edition. Excerpt: ... account of the stock sold after its execution, amounting in all to $525.65, leaving a balance due the plaintiff on the 5th of January, 1850, from M. E. McKee of $520, for which he then executed to the plaintiff his due bill. Subsequently and before the commencement of the action M. E. McKee made further payments to the plaintiff. reducing the amount due the latter to_$4o8.89. The plaintif f claimed to recover of the defendant this amount. Upon these facts the counsel for the defendant insisted that the plaintiff was not entitled to recover, because: 1. The instrument signed by the defendant did not express, nor did the evidence show a sufficient consideration to uphold it; 2. If valid it was an absolute contract for the purchase of goods by the defendant to the amount of $500 and not a contract of guarantee; 3. If it was to be regarded as a contract of guarantee, it was not a continuing guarantee; 4. That M. E. McKee having paid more than $500 on the account, which accrued for property sold after the execution of the contract by the defendant, the latter was thereby discharged. The court overruled each of said objections, and decided that the plaintiff was entitled to recover the balance due, being $408.89, and ordered judgment for this amount. The counsel for the defendant excepted. The judgment was affirmed at a general term of the court in the 8th district. The defendant appealed to this court. Nathan Dayton, for the appellant. S. E. Church, for the respondent. DENIO. J. If this were the first time that an instrument of this character had been before a court, and we were now called upon to construe it without the light of adjudged cases, the first inquiry would naturally be whether the limit of $500 related to the amount of more

Product details

  • Paperback | 180 pages
  • 189 x 246 x 10mm | 331g
  • United States
  • English
  • black & white illustrations
  • 1236957199
  • 9781236957191