Keene Five Cents Savings Bank v. Herrick
Supreme Court of New Hampshire
Bill in Equity, against Jarib S. Herrick, Sarah E., his wife, James L. Bolster, and the administrator of the estate of John W. Herrick, deceased, praying that a mortgage given by Jarib S. to John W., and to Bolster may be assigned to the plaintiffs, and for a foreclosure thereof. Facts found by the court.
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Bill in Equity, against Jarib S. Herrick, Sarah E., his wife, James L. Bolster, and the administrator of the estate of John W. Herrick, deceased, praying that a mortgage given by Jarib S. to John W., and to Bolster may be assigned to the plaintiffs, and for a foreclosure thereof. Facts found by the court. January 1, 1877, Jarib S. Herrick obtained of the plaintiffs a loan of $510 and gave them his note for that amount, signed by John W. Herrick and Bolster as sureties, payable on demand with interest annually. January 27, 1877, he gave a mortgage of certain real estate described in the bill…
1Opinion of the CourtSmith, J.
In the early case of Maure v. Harrison, 1 Eq. Cas. Abr. 93 K. 5, decided in 1692, it was held that a bond creditor was entitled to the benefit of all counter bonds, or collateral securities given by the principal debtor to his surety; and that the holder of a bond was therefore entitled to the benefit of a bond and mortgage given by the principal debtor to his surety in the bond for the indemnity of the surety. In 1 Sto. Eq. Jur., s. 502, it is laid down that “ if a surety has a counter bond or security from the principal, the creditor will be entitled to the benefit of it, and may in equity…
2Cases cited23 opinions
- Russell v. Clark's ExecutorsSupreme Court of the United States · 1812
- State of New York v. State of Connecticut Et Al.Supreme Court of the United States · 1799
- King v. BaldwinNew York Court of Chancery · 1817
- Curtis v. TylerNew York Court of Chancery · 1842
- Moses v. MurgatroydNew York Court of Chancery · 1814
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3Cited by1 opinion
- White v. Fernald-Woodward Co.Supreme Court of New Hampshire · 1910