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Reports of Cases in Equity Argued and Determined in the Supreme Court of North Carolina (Volume 3)

Reports of Cases in Equity Argued and Determined in the Supreme Court of North Carolina (Volume 3)


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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. 1846. Excerpt: ... JOHN B. ALLEN, ADM'R. 4c. vs. JOHN WOOD. Dec. 1844. The right of a surety to have contribution from his co-surety, in Equity, is--------not founded upon any principle of contract, but is the result of naturat justice. When one surety brings a bill for contribution against a co-surety, he should at least allege that the principal is insolvent, sa that he can have no redress against him. For the equity of a plaimiff, seeking contribution from a cosurety, lies in the insolvency of the principal. Where money is advanced by the principal to one of the sureties, to discharge the debt, before the debt is actually discharged, the co-surety may file his bill in equity for an account and for relief. But if the money is paid by the principal, after the debt has been discharged by the sureties, to one of two sureties, to reimburse both, then the co-surety has his remedy against the surety, receiving the money, by an action at law for money had and received, and, theiefore, cannot support a suit in equity. The cases of Williams v. Helme, 1 Dev. Eq. 159. Rainey v. Yarlorovgh, 2 Ired. Eq. 904 and Bell v. Jasptr, 2 Ired. Eq. Jo', cited and approved. 3A f ffy Cause removed from the Court of Equity of Johnston County, at the Fall Term, 1844. The bill sets forth, that the defendant and William B. Allen, the intestate of the plaintiff, became the sureties of one Joshua B. Wood, and one H. C. Ennis, on a note for one thousand dollars, to one Robert W. Snead; that a suit was brought on said note against all the obligors, except Joshua B. Wood, who had removed from the State, and judgment obtained against all the defendants to the action for the sum of $953 28, with interest; that on this judgment, execution issued against all the defendants, and was discharged by the said Will...


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Product Details
  • ISBN-13: 9781154246094
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 198
  • Spine Width: 11 mm
  • Width: 189 mm
  • ISBN-10: 1154246094
  • Publisher Date: 01 Feb 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 363 gr


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