Cruger v. Burke
Texas Supreme Court
Appeal from Harris. The principal facts will be found in the report of same case on former appeal, in 8 Tex. R. 66. There was evidence tending to prove that the mortgage was given upon a contract to extend the time of payment. Yer- ‘ diet and judgment for defendants. Motion for new trial overruled. Plaintiffs appealed.
1Opinion of the CourtLipscomb, J.
The only question, presented for consideration in this case, is, as to the legal effect of the mortgage contract, entered into between the plaintiffs and A. J. McGowan. If its legal effect was to postpone the payment or the collection of the debt due from McGowan to the plaintiffs, the securities, the present defendants, are discharged from all liability. There is no evidence that this mortgage was entered into with the privity or assent of the securities. I am of the opinion that its legal effect was to constitute a new contract, giving time for payment on a valid consideration; and, in a…
2Cited by7 opinions
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- Graves v. AllenTexas Supreme Court · 1886
- National Bank of Commerce v. GilvinCourt of Appeals of Texas · 1912
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