Crump v. McMurtry
Supreme Court of Missouri
APPEAL from Callaway Circuit Court. FIRST VIEW. By the agreement of June, 1838, between McMurtry and McClelland, the $1,000 bond of January, 1838, became and was collateral security for a similar amount of the $1,920 note payable in 1837. And although the sureties upon the $1,000 bond were not parties to the agreement of June, 1838, yet, by the rules of equity, they are as fully entitled to every benefit under it as if they had actually executed it themselves. — 1 Story’s…
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APPEAL from Callaway Circuit Court. FIRST VIEW. By the agreement of June, 1838, between McMurtry and McClelland, the $1,000 bond of January, 1838, became and was collateral security for a similar amount of the $1,920 note payable in 1837. And although the sureties upon the $1,000 bond were not parties to the agreement of June, 1838, yet, by the rules of equity, they are as fully entitled to every benefit under it as if they had actually executed it themselves. — 1 Story’s Equity, 320, 321; Hayes vs. Ward, 4 Johns. Chan. Reports, 123; Mayhen vs. Crocket, 2 Swonst. Rep., 186. Assuming these two…
1Opinion of the CourtScott, J.
This was a hill in chancery filed by T. Crump, N. E. Branham, and others, securities in a bond executed by them, together with J. M. McClelland and Compton, to Levi McMurtry. McClelland, the principal in the bond, and Compton, one of the securities, were made defendants together with McMurtry. The facts, as stated in the bill, are as follows: McMurtry sold a tract of land to McClelland for $5,760, to he paid by three'equal instalments of $1,920 each, on the 25th October, 1836, 1837, and 1838. These instalments were secured by the notes of McClelland. Most of the first instalment was paid, and…
2Cited by7 opinions
- Mathews v. SwitzlerSupreme Court of Missouri · 1870
- Finnell v. Jas. H. Goodman & Co. BankCalifornia Supreme Court · 1909
- Estate of Gwinn v. CommissionerUnited States Tax Court · 1955
- Folden v. HendrickSupreme Court of Missouri · 1857
- Gwinn v. CommissionerUnited States Tax Court · 1955
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