First National Bank of Fair Haven v. Johnson
Supreme Court of Vermont
Assumpsit. Heard upon the report of a referee at the September term, 1892, Taft, J., presiding. Judgment -pro forma for the plaintiff. The defendant excepts. There was no question as to the liability of the principal defendant. The defendant, Victoria A. Johnson, was surety upon the notes in suit, and claimed to have been discharged in virtue of the transactions by the plaintiff in reference to certain collateral security.
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Assumpsit. Heard upon the report of a referee at the September term, 1892, Taft, J., presiding. Judgment -pro forma for the plaintiff. The defendant excepts. There was no question as to the liability of the principal defendant. The defendant, Victoria A. Johnson, was surety upon the notes in suit, and claimed to have been discharged in virtue of the transactions by the plaintiff in reference to certain collateral security. The Valido Marble company was engaged in the business of manufacturing and selling marble, in the course of which it received considerable amounts of commercial paper on…
1Opinion of the Court
The opinion of the court was delivered by
THOMPSON J.
These cases were heard together. The defendant, Victoria A. Johnson, was a surety on the notes in suit and that fact was known to the plaintiff when it discounted them for the Valido Marble company. She contends that she has been discharged from liability on the notes by the conduct of the plaintiff in respect to collateral security which it received and held from the company to secure its indebtedness including these notes to the plaintiff.
As we construe the referee’s report, he finds that two or three years previous to the execution and…
2Cases cited2 opinions
- Austin v. BelknapSupreme Court of Vermont · 1882
- Hicks' Estate v. BlanchardSupreme Court of Vermont · 1888
3Cited by1 opinion
- Clifford v. West Hartford Creamery Co.Supreme Court of Vermont · 1931