Bailey Loan Co. v. Seward
South Dakota Supreme Court
Appeal from circuit court, Pennington county. Hon. William Gardner, Judge. Action on two promissory notes. From a judgment for de fendants Price and Buell, plaintiff appeals. The facts are stated in the opinion. The terms surety and guarantor are in the books used interchangeably, and as having the same meaning. The distinction between them is, at common law, shadowy, whatever may be the change made by our statute.
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Appeal from circuit court, Pennington county. Hon. William Gardner, Judge. Action on two promissory notes. From a judgment for de fendants Price and Buell, plaintiff appeals. The facts are stated in the opinion. The terms surety and guarantor are in the books used interchangeably, and as having the same meaning. The distinction between them is, at common law, shadowy, whatever may be the change made by our statute. A surety is treated as an original promisor, and is held to know every default of bis principal. And a guarantor of payment or performance was also, at common law, treated as an…
1Opinion of the CourtCorson, P. J.
This was an action brought by plaintiff against the defendant Seward as principal, and the defendants Price and Buell as guantors, of two promisso^ notes for $1,-000, executed by sa,id Seward to plaintiff. Defendants Price and Buell recovered judgment, and the plaintiff appeals.
Respondent's objection to the consideration of the appellant’s assignment of errors on the ground that the bill of exceptions contains no specification of the errors relied on cannot be entertained, for the reasons stated in Peart v. Railroad Co. (S. D.) 67 N. W. 837. Nor is their point concerning the undertaking well…
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