Gleason v. Childs
Supreme Court of Vermont
General Assumpsit. Pleas, general issue and Statute of Limitations, Trial by the court at the September Term, 1879, Dun-ton, J., presiding. The facts were as follows: In 1867 one Earle held a note against Cyrus Edson for $500, which was due, and on which payment was required. Edson asked the defendant to buy the note. The defendant had no money at the time, but agreed with Edson that he would raise the money, buy the note, and hold it for a year, for twenty dollars.
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General Assumpsit. Pleas, general issue and Statute of Limitations, Trial by the court at the September Term, 1879, Dun-ton, J., presiding. The facts were as follows: In 1867 one Earle held a note against Cyrus Edson for $500, which was due, and on which payment was required. Edson asked the defendant to buy the note. The defendant had no money at the time, but agreed with Edson that he would raise the money, buy the note, and hold it for a year, for twenty dollars. He thereupon hired $480 of Isaac Munson, for which he gave Munson his own note, and with which he purchased the Edson note,…
1Opinion of the Court
The opinion of the court was delivered by
Royce, J.
The money that was paid by the plaintiff to Childs, and that is sought to be recovered back in this action, was not paid for the forbearance of any debt that the plaintiff owed Childs, or as interest upon any debt or claim then due from the plaintiff to Childs. The plaintiff was indebted to Edson, and Edson was indebted to Childs. The money paid by the plaintiff to Childs was under an agreement that in consideration of such payments Childs would give further time to Edson, and by so doing Edson would give further time to the plaintiff. Such a…
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