New-Hampshire Savings Bank v. Colcord
Superior Court of New Hampshire
Assumpsit: on a note, dated April 17,1837, for $700, made payable at the office of said bank, on demand, with, interest after four months, and signed by Edward Brackett as principal, and John Wheeler, J. C. Whittemore, Joseph Colcord, Bradbury Grill, I. S. Boyd and William White, as sureties.
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Assumpsit: on a note, dated April 17,1837, for $700, made payable at the office of said bank, on demand, with, interest after four months, and signed by Edward Brackett as principal, and John Wheeler, J. C. Whittemore, Joseph Colcord, Bradbury Grill, I. S. Boyd and William White, as sureties. Upon tbo back of said note were the following indorsements, to wit: “ 1837, Aug. 21. Bec’d $70, prin. and int. to Dec. 17, 1837. 1840, Dec. 21. Rec’d $50: prin. and int. is paid to Apr. 17,1841. Rec’d int. to Apr. 17,1842.” The writ was dated Dec. 31,1842. It appeared by the books of the bank that…
1Opinion of the CourtParker, C. J.
We have repeatedly recognized the rule, originating in equity, but now generally held to be equally a rule at law, that a binding contract for farther delay of the time of payment, made between the creditor and the principal, without the assent of the surety, discharges the latter from the obligation of the contract; and it follows, almost as a matter of course, that we should, so far as we may consistently with the forms of proceedings at common law, apply other principles of equity which regulate the relation of principal and surety. 7 Johnson 337, People vs. Jansen. Among these, as we have…
2Cases cited3 opinions
- Hopkins v. LiswellMassachusetts Supreme Judicial Court · 1815
- Ladd v. KinneySuperior Court of New Hampshire · 1821
- Farrington v. BrownSuperior Court of New Hampshire · 1834
3Cited by2 opinions
- First Nat. Bank of Birmingham v. HendrixSupreme Court of Alabama · 1941
- Martin v. FalesSuperior Court of New Hampshire · 1851