Wilson v. Powers

This is an action against the sureties upon a promissory note. The defence relied on is that the plaintiff has released the sureties by entering into an agreement with the principal to extend the time of payment.

The indorser or the surety upon a note is discharged by an agreement made, without his consent, between the holder and the maker to give time to the maker. But, to have this effect, it must be a valid agreement founded upon a good consideration, such as can be enforced either at law or in equity. Veazie v. Carr, 3 Allen, 14. Potter v. Green, 6 Allen, 442. Jennings v. Chase, 10 Allen,…