Quinn v. Hard
Supreme Court of Vermont
Assumpsit upon a promissory note. Plea, the general issue. Trial by the court, September term, 1870, Wheeler, J., presiding. Upon trial it appeared that on the 23d day of September, 1869, at Rutland, the plaintiff lent |200 to the defendant Lane, to be paid the next week. Lane did not pay it the next week, and the 27th day of October, 1869, the plaintiff went to Burlington to procure payment.
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Assumpsit upon a promissory note. Plea, the general issue. Trial by the court, September term, 1870, Wheeler, J., presiding. Upon trial it appeared that on the 23d day of September, 1869, at Rutland, the plaintiff lent |200 to the defendant Lane, to be paid the next week. Lane did not pay it the next week, and the 27th day of October, 1869, the plaintiff went to Burlington to procure payment. Lane, in order to get a note with which to pay the plaintiff, applied to the defendant Hard, and represented that he wished to use money in an operation that he could make immediately profitable, and…
1Opinion of the Court
The opinion of the court was delivered by
Peck, J.
The pre-existing debt of Lane to the plaintiff .was a good consideration for the note, both as to Lane the principal, and as to Hard the surety ; especially as it appears that the note was delivered and accepted in payment of that debt. Not only was the original debt against Lane extinguished by the note received in payment, but the credit was extended sixty days, the period the note had to run. An agreement by a creditor with a third person to forbear the collection of a debt against his debtor for a specified time, is a good consideration for…
2Cases cited5 opinions
- Passumpsic Bank v. GossSupreme Court of Vermont · 1858
- Paton v. CoitMichigan Supreme Court · 1858
- Dixon v. DixonSupreme Court of Vermont · 1859
- Bank of Missouri v. PhillipsSupreme Court of Missouri · 1852
- Farmers & Mechanics' Bank v. HathawaySupreme Court of Vermont · 1864
3Cited by6 opinions
- Pierson v. HuntingtonSupreme Court of Vermont · 1909
- Body v. JewsenWisconsin Supreme Court · 1873
- Lucas v. OwensIndiana Supreme Court · 1888
- American Exchange National Bank v. UlmMontana Supreme Court · 1898
- Whittemore v. ObearSupreme Court of Missouri · 1874
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