Vaughan v. Vernon
Supreme Court of Arkansas
Appeal from Madison Chancery Court; T. H. Humphreys, Chancellor; STATEMENT BY THE COURT. In August, 1895, Catlet Fitch borrowed $275 from W. A. Vernon, and executed to him the following note therefor with G. W. Vaughan as surety: . “Hindsville, Ark. 8-20-1895. $275- “Twelve months after date we promise to pay to the order of W. A. Vernon two hundred and seventy-five dollars at ten per cent, from date until paid, for value received. “Catret Fitch, “G. W. Vaughan.”
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Appeal from Madison Chancery Court; T. H. Humphreys, Chancellor; STATEMENT BY THE COURT. In August, 1895, Catlet Fitch borrowed $275 from W. A. Vernon, and executed to him the following note therefor with G. W. Vaughan as surety: . “Hindsville, Ark. 8-20-1895. $275- “Twelve months after date we promise to pay to the order of W. A. Vernon two hundred and seventy-five dollars at ten per cent, from date until paid, for value received. “Catret Fitch, “G. W. Vaughan.” The note, was not paid at maturity, but the interest was paid from year to year up to August 20, 1903. W. A. Vernon died in 1905,…
1Opinion of the Court
Riddick:, J.,
(after stating the facts.) The question in this case is whether the evidence shows that there was a valid agreement to extend the time for the payment of the note. If an agreement of that kind' was made without the consent of the surety, the plaintiff can not recover, for the defendant Vaughan was only a surety. But we do not think that the evidence shows any such agreement. The only witness who testified in reference thereto was the defendant Fitch, who borrowed the money. His evidence bearing on this point shows that he had the following conversation with Vernon at the time the…
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