Reports of Cases Argued and Determined in Ohio Courts of Record Except Supreme and Circuit Volume 24

Reports of Cases Argued and Determined in Ohio Courts of Record Except Supreme and Circuit Volume 24

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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. 1915 edition. Excerpt: ... thus secured, creates a liability in his favor for contribution against the signers of the first. 2. Second Guaranty Given Pursuant to Understanding Between Bank and Signera to Secure Payment of New Obligations of Principal instead of Former Guaranty Between Same Parties no Contribution Exists Between Signers of Two Guaranties. But when the second guaranty is given and accepted under such circumstances as to create an understanding between the bank and the signers of such guaranty, 'that the same should stand for the payment of the new obligations of the company instead of the first, no right of contribution exists between the signers.0! the second and the signers of the first for any obligations to the bank created thereafter. 'This case was heard by the court of appeals on the same evidence with the same result, except that the right of plaintiff to recover costs was denied upon the ground that he had made no demand upon his cosureties for contribution before suit, under the authority of Neilson v. Fry, 16 Ohio St. 552 91 Am. Dec. 110. Wood Common Pleas. 3. Wasting Property of Insolvent Corporations, Secured by Signor Paying Guaranty not Defense In Contribution Between Signers. It is no defense in any such action that the plaintitt converted or wasted the property of the insolvent corporation for whose benefit the guaranty was given. Syllabus by the court. G. H. Phelps, for plaintifi'. B. F. James, for defendant. Rudolph. M cC'lelland (Q Bowman, for defendant Bourquin. DUNCAN, J. This is an action for contribution among cosureties. In the year 1905, the plaintifi, A. J. Steele, and the defendants, D. J. Gonyer, H. J. Rudolph, M. A. MacKendree, Edward Beverstock and E. P. Bourquin, were directors of a corporation known as the...show more

Product details

  • Paperback | 234 pages
  • 189 x 246 x 12mm | 426g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 123678801X
  • 9781236788016