Daniel v. Crooks

Judge Marshall

delivered the Opinion of the Court.

Henry Daniel and J. S. Magowan entered into bond to Edward Stockton and many others, stockholders of the Mountsterling Independent Bank. Among the obligees named, are the complainant, and also Daniel and Magowan, the obligors, who were themselves stockholders.

The condition of the bond recites, that Daniel had undertaken to settle up the business of the Bank; to pay all its debts to individuals, and to redeem its paper in circulation, when demanded at Mountsterling, in banking hours, according to the conditions of the charter, in Kentucky or…