Bank of Newbury v. Sinclair
Supreme Court of New Hampshire
The defendants in the second and third actions are also defendants in the first. Pacts found by an auditor. The first action is assumpsit on a written guaranty.
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The defendants in the second and third actions are also defendants in the first. Pacts found by an auditor. The first action is assumpsit on a written guaranty. January 22, 1876, the defendants guaranteed all sums of money that the defendants Sinclair and the Waumbek Lumber Company, by Sinclair as treasurer, or either of them, might have from the plaintiffs, or any indebtedness that Sinclair or the lumber company, or either of them, might incur to the plaintiffs on or before March 1, 1878,. not exceeding $12,000 at any one time. February 8, 1876, the bank loaned Sinclair $12,000, and took his…
1Opinion of the CourtFoster, J.
The defendants contend that they are not liable on tbe contract of guaranty which they signed, because there has been no notice to them of an acceptance of the guaranty on the part of the bank, or of the amount of money advanced on the faith of it; and they argue that the guarantors have the right to know what the acceptor of the guaranty expects of them, in order that they may take security or indemnity from the party in whose favor they have assumed liability; that they are entitled to notice within a reasonable time; and that a reasonable time would be such time as would secure to them all…
2Cases cited35 opinions
- Douglass v. HowlandNew York Supreme Court · 1840
- Gage v. LewisIllinois Supreme Court · 1873
- Lent v. PadelfordMassachusetts Supreme Judicial Court · 1813
- Townsend v. CowlesSupreme Court of Alabama · 1858
- Donley v. CampSupreme Court of Alabama · 1853
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3Cited by4 opinions
- McDonald v. FernaldSupreme Court of New Hampshire · 1894
- Cilley v. DearbornSupreme Court of New Hampshire · 1910
- Howland v. CurrierSupreme Court of New Hampshire · 1897
- In the Matter of Sandra L. Patient and Marcel C. Patient, Jr.Supreme Court of New Hampshire · 2017