Agnew v. Bell
Supreme Court of Pennsylvania
ERROR to the common pleas of Cumberland county. This action was assumpsit by Thomas Bell against John Agnew, in which the following facts appeared: On the 2d day of March 1832, Alexander Oliver executed a negotiable note for his own use and accommodation for 2000 dollars to Thomas Bell and John Agnew, joint payees, and thereupon the payees, Thomas Bell and John Agnew, indorsed the same note to the Lebanon Bank, and the bank, by way of accommodation or loan to Alexander…
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ERROR to the common pleas of Cumberland county. This action was assumpsit by Thomas Bell against John Agnew, in which the following facts appeared: On the 2d day of March 1832, Alexander Oliver executed a negotiable note for his own use and accommodation for 2000 dollars to Thomas Bell and John Agnew, joint payees, and thereupon the payees, Thomas Bell and John Agnew, indorsed the same note to the Lebanon Bank, and the bank, by way of accommodation or loan to Alexander Oliver, paid the amount of it to him. Before and at the time of the indorsement of the note by John Agnew, for his indemnity…
1Opinion of the Court
The opinion of the Court was delivered by
Kennedy, J.
—It is certainly a rule too well established now to be questioned, that where any one or more of those, who are co-sureties, have had to pay, as such, the debt of their principal, or any part thereof, and he is unable to reimburse it, the loss arising therefrom must be borne equally by all of them. Hence has arisen the right to contribution. This right has been considered as depending rather upon a principle of equity than upon contract; but it may well be considered as resting alike on both for its foundation ; for although, generally,…
2Cited by6 opinions
- Seibert v. ThompsonSupreme Court of Kansas · 1871
- National Exchange Bank v. . SillimanNew York Court of Appeals · 1875
- Baily's EstateSupreme Court of Pennsylvania · 1893
- Shaeffer v. ClendeninSupreme Court of Pennsylvania · 1882
- Gibson v. ShehanCourt of Appeals for the D.C. Circuit · 1895
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