Sheldon v. Williams
Nebraska Supreme Court
Error from the district court for Gage county. Tried below before Weaver, J. The machine being a mere chattel security for the note, and never having been reduced to possession by the creditor, the failure to foreclose the lien and apply proceeds in payment of the debt did not discharge the surety. JBurr v. Boyer, 2 Neb., 265. 1 Story Eq. Jur., sec. 501. Brant on Suretyship, sec. 390. Hays v. Ward, 4 Johns.
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Error from the district court for Gage county. Tried below before Weaver, J. The machine being a mere chattel security for the note, and never having been reduced to possession by the creditor, the failure to foreclose the lien and apply proceeds in payment of the debt did not discharge the surety. JBurr v. Boyer, 2 Neb., 265. 1 Story Eq. Jur., sec. 501. Brant on Suretyship, sec. 390. Hays v. Ward, 4 Johns. Ch., 131. Jones v. Tincher, 15 Ind., 308. Brown v. Brown, 17 Ind., 475. Canal Co. v. Fscoffie, 2 La. An., 830. Bank v. Codden, 15 Ala., 616. Freaner v. Tingling, 37 Md., 491. 3 Lead. Cas.…
1Opinion of the Court
Maxwell, Ch. J.
This action was brought in the district court of Gage county, upon a promissory note, of which the following is a copy:
“$75.00. Joliet, Will County, 111., July 17,1877.
“On or before the first day of October, 1878, for value received in one Meadow Ring Mower, No. 4040, *274I promise to pay S. L. Sheldon, or order, seventy-five dollars, at the First National Bank in Joliet, Ills., with interest at the rate of six per cent per annum, if paid when due, and ten per cent per annum if not paid when due, from date until paid. I also agree to pay reasonable attorney’s fees if suit is…
2Cases cited1 opinion
- Dillon v. RussellNebraska Supreme Court · 1877
3Cited by7 opinions
- Eickhoff v. EikenbaryNebraska Supreme Court · 1897
- Smith v. MasonNebraska Supreme Court · 1895
- Whitehouse v. American Surety Co.Supreme Court of Iowa · 1902
- Stoll v. SheldonNebraska Supreme Court · 1882
- Bell v. WalkerNebraska Supreme Court · 1898
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