Gardner v. Lloyd
Supreme Court of Pennsylvania
Error to the Court of Common Pleas of Blair county : Of July Term 1883, No. 208. Assumpsit, by James Gardner, to the use of Christian Baumgardner et al. against John Lloyd. Plea, non-assumpsit.
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Error to the Court of Common Pleas of Blair county : Of July Term 1883, No. 208. Assumpsit, by James Gardner, to the use of Christian Baumgardner et al. against John Lloyd. Plea, non-assumpsit. On the trial, before Dean, P. J., the following facts appeared: For some years prior to October, 1873, William M. Lloyd had been engaged in business as a banker, at Altoona, in the name of William M. Lloyd & Co., at Ebensburg in the name of Lloyd & Co., and at Bedford in the name of W. M. Lloyd. He was also interested in banks at Tyrone, Latrobe, East Liverpool, Ohio, New York, and at other points. In…
1Opinion of the Court
• Mr. Justice Green
delivered the opinion of the court, October 5th, 1885.
It may be conceded that in all cases of absolute guaranty accepted when given, whether for the extension of a present indebtedness or the creation of a new one, notice of acceptance is not necessary to fix the liability of the guarantor. But such concession does not reach the radical difficulty of this case. It is not possible to regard the contract of the defendant as an absolute engagement. It is true that the words of the promise are absolute and positive, thus, “We whose names are hereunto attached do severally…
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