Thompson v. . Taylor
New York Court of Appeals
Appeal from order of the General Term of the Supreme Court, in the fourth judicial department, reversing a portion of an order of Special Term, which disallowed the claim of Orasmus B. Matteson for costs and expenses alleged to have been incurred by him as indorser upon the notes of James B. Taylor, deceased. (Reported below, 11 Hun, 274.) This action was brought to marshal the assets of the estate of said deceased, and to distribute them among the creditors.
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Appeal from order of the General Term of the Supreme Court, in the fourth judicial department, reversing a portion of an order of Special Term, which disallowed the claim of Orasmus B. Matteson for costs and expenses alleged to have been incurred by him as indorser upon the notes of James B. Taylor, deceased. (Reported below, 11 Hun, 274.) This action was brought to marshal the assets of the estate of said deceased, and to distribute them among the creditors. In 1870 said James B. Taylor died insolvent, owing debts to a large sum, among which were several promissory notes, amounting in all to…
1Opinion of the CourtRapallo, J.
Upon principles of equity, a surety, as between himself and his principal, stands upon a different footing, in some respects, from an ordinary creditor. He is entitled to full indemnity against the consequences of the default of the principal, and is, therefore, entitled to call upon him for reimbursement not only of what he may have been obliged to pay in discharge of the obligation for which he was surety, but also of all reasonable expenses legitimately incurred in consequence of such default, or for his own protection. These do not include expenses incurred in defending himself against…
2Cited by20 opinions
- Corn Exchange Bank v. . Nassau BankNew York Court of Appeals · 1883
- In re the Estate of IsraelNew York Surrogate's Court · 1970
- Lori-Kay Golf, Inc. v. LassnerNew York Court of Appeals · 1984
- Leghorn v. RossAppellate Division of the Supreme Court of the State of New York · 1976
- In re the Estate of RevsonAppellate Division of the Supreme Court of the State of New York · 1982
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