Stafford v. New Bedford Five Cents Savings Bank

The plaintiff in this case was a surety on a note of the Union Mill Company for $30,000, which note was held by the defendant bank. The Union Mill Company became bankrupt, and the bank proved the note in bankruptcy against the company, and before it received any dividend brought an action on the note against the plaintiff as surety, and obtained judgment. It was held in that case, that it was no ground for postponing judgment against the surety that.the bank had proved the note in bankruptcy against the company, and that the amount of dividend thereon had not been determined. New Bedford Five…