Continental Oil Co. v. Horsey

The parties to this appeal present the single question whether, the giving of a note, payable on demand after date, for a pre-existing debt, discharged guarantors of that debt. In a suit by a creditor against the guarantors, a verdict for the defendants was directed at the close of testimony on the plaintiff’s behalf, and from the judgment entered accordingly the plaintiff appeals.

The plaintiff is a dealer in gasoline, oils, and other merchandise, and in consideration of making a contract with William E. Cohee to sell its wares at a filling station, received from the defendants, on March…