Pott v. Nathans
Supreme Court of Pennsylvania
ERROR to Schuylkill county. The Philadelphia Loan Company for the use of Nathan Nathans against Benjamin Pott, Charles W. Clemens, and Burd Patterson.
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ERROR to Schuylkill county. The Philadelphia Loan Company for the use of Nathan Nathans against Benjamin Pott, Charles W. Clemens, and Burd Patterson. The case was, that George Shoemaker had given his note to the Loan Company, with Nathan Nathans as his endorser; this note was sued, and separate judgments obtained against the drawer and endorser, and execution was issued on the judgment against the principal, upon which his real estate was about to be sold, when Benjamin Pott, Charles W. Clemens, and Burd Patterson, the defendants, gave their note to the plaintiff, and the plaintiff’s…
1Opinion of the Court
The opinion of the Court was delivered by
Seuoeaut, J.
The general doctrine that a surety who pays to, the creditor the debt due by his principal, shall enjoy the benefit of the securities for the debt placed in the power of the creditor by the principal, has been acted on by courts of equity, and recommends itself to our sense of justice. It seems right, that the creditor should transfer the means of indemnification, for which he has no longer occasion, to him who, under a legal obligation to pay, in default of the principal debtor, has released these securities from the demand of the…
2Cases cited1 opinion
- Commonwealth ex rel. Bellas v. HaasSupreme Court of Pennsylvania · 1827
3Cited by25 opinions
- Barnes v. . MottNew York Court of Appeals · 1876
- Hinckley v. . KreitzNew York Court of Appeals · 1874
- Sundheim v. Philadelphia School DistrictSupreme Court of Pennsylvania · 1933
- Armstrong's AppealSupreme Court of Pennsylvania · 1843
- Manufacturers' & Mechanics' Bank v. Bank of PennsylvaniaSupreme Court of Pennsylvania · 1844
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