A Treatise on the Law of Damages; Comprising Their Measure, the Mode in Which They Are Assessed and Reviewed, the Practice of Granting New Trials, and the Law of Set-Off

A Treatise on the Law of Damages; Comprising Their Measure, the Mode in Which They Are Assessed and Reviewed, the Practice of Granting New Trials, and the Law of Set-Off

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1872 edition. Excerpt: ...no debt arises from the principal till a payment has been made by the surety (w); even though the surety has been called on for payment (x). But in equity, as soon as he is under actual liability, he may demand to be exonerated (//). At law, the moment he has paid any part of the debt, he may sue his principal, and as often as he makes a payment his right to sue accrues (z). But where a party who is surety for another can only protect himself from action at suit of a third party by paying money at a particular day he may do so, and before demand, and then sue his principal for the amount so paid (a). The form of action by surety against principal is assumpsit What amounts for money paid to his use. An important question then 4 by arises, what may be considered as money for this purpose? Where the plaintiff was security for the defendant who became insolvent, upon which the plaintiff being called on for the money gave his note of hand payable with interest, Lord Giving a note. Kenyon held that the creditor having consented to take the note from the plaintiff, it was as payment to them of the money due by the defendant; it was payment of money to his use, and the action was maintainable. And the Court, on motion for a new trial, agreed with this decision (b). The American Courts hold the same rule in all cases in which the note has been given and accepted by the creditor as full payment and in complete satisfaction (c). In England, however, the point seems by no means settled. It has been twice Bond, decided that giving a bond does not enable a party to maintain an action for money paid, even when it has been accepted as payment and satisfaction of the old debt (cl). In the first case Lord Ellenborough said, "There is no pretence for...show more

Product details

  • Paperback | 204 pages
  • 189 x 246 x 11mm | 372g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236583795
  • 9781236583796