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The Law of Private Arrangements Between Debtors and Creditors; With Precedents of Assignments and Composition Deeds

The Law of Private Arrangements Between Debtors and Creditors; With Precedents of Assignments and Composition Deeds


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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. 1885 Excerpt: ...of the parties, he voluntarily discharges the principal without reserving his remedies against the surety, he will not be allowed to sue the latter (6). This rule of equity was available as an equitable defence at law (c), and since the Judicature Act 1873 (d) it will prevail in all Courts. Same rule Similarly with regard to promissory notes, if the note promissory was made and given to the payee without consideration, notes made an)j jne h0ler nad notice of the absence of consideration, without' considera-yet at law, formerly, he did not discharge the maker by tion. (a) 9 CI. & F. 45. (b) Davies v. Stainbank, 6 De G. M. & G. 679, and per Coleridge, J., thereon in / ooley v. Harradine, 5 W. R. 407; Oakley v. Pasheller, 4 CI. & F. 207; Bailey v. Edwards, 12 W. R. 337, overruling Strong v. Foster, 17 C. B. 201, on thi8 point; Oriental Financial Corporation v. Overend, 7 Chy. App. 142, L. R. 7 H. L. 348, overruling Ex parte Qraham, 5 De G. M. & G. 356. (c) Carstairs v. Rolleston, 5 Taunt. 551; Nichols v. Korris, 3 B. & Ad. 41, n. (rf) 36 & 37 Vict. c. 66, sec. 25 (11). Principal and Surety. 137 tying his hands against the real principal (a). But the equitable doctrine will now prevail in all Courts (b), and if it appear that one of the makers of a joint and several promissory note was really only a surety for another maker (c), or that the sole maker of a promissory note was only a surety (d), and that the creditor has, after notice of the real character of the parties, given time to or otherwise dealt with the real principal in such a way as to damnify the surety, the latter will be discharged. Where the relation of principal and surety did not Two prin subsist at the time of the original contract, but the two debtors joint debtors sub...


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Product Details
  • ISBN-13: 9781130218145
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 88
  • Spine Width: 5 mm
  • Width: 189 mm
  • ISBN-10: 1130218147
  • Publisher Date: 01 Mar 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 172 gr


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