Fairfield v. Day
Supreme Court of New Hampshire
Assumpsit. Case agreed upon facts found by a referee, and transferred from the October term, 1900, of the supreme court by Blodgett, C. J. The parties were formerly copartners at Concord in this county, as dealers in carpenters’ supplies. In April, 1896, the plaintiff purchased the defendant’s interest in the business.
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Assumpsit. Case agreed upon facts found by a referee, and transferred from the October term, 1900, of the supreme court by Blodgett, C. J. The parties were formerly copartners at Concord in this county, as dealers in carpenters’ supplies. In April, 1896, the plaintiff purchased the defendant’s interest in the business. In August of that year, finding himself unable to pay the stipulated price, the plaintiff entered into an agreement with the defendant, by the terms of which the defendant was to pay him $2,700 in money, surrender the notes he held against him, and pay all outstanding bills due…
1Opinion of the CourtBlodgett, C. J.
The contention of the defendant is that his contract in respect to the payment of the outstanding bills was, one of indemnity merely, while the contention of the plaintiff is. that it was one for the unconditional payment of liabilities. There being a well-settled distinction between an agreement to indemnify and an agreement to pay, it is necessary in the first instance to determine the nature of the contract upon which this action is founded.
The contract speaks for itself. By it, and for a valuable consideration, the defendant, among other things, “ was to pay all outstanding bills due on…
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