Pinney v. Kimpton
Supreme Court of Vermont
Assumpsit on a promissary note for <$1,000, dated June 10, 1869, payable to J. E. Kimpton, or bearer. Plea, the general issue, and trial by jury, September term, 1872, Redfifld, J., presiding. It appeared that the plaintiff and Samuel D. Hobson signed a note for $1,000 with John E. Kimpton, and as sureties for him, and that at the time they signed, said Kimpton delivered the note in suit to the plaintiff, as indemnity for becoming his surety.
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Assumpsit on a promissary note for <$1,000, dated June 10, 1869, payable to J. E. Kimpton, or bearer. Plea, the general issue, and trial by jury, September term, 1872, Redfifld, J., presiding. It appeared that the plaintiff and Samuel D. Hobson signed a note for $1,000 with John E. Kimpton, and as sureties for him, and that at the time they signed, said Kimpton delivered the note in suit to the plaintiff, as indemnity for becoming his surety. This note was mere accommodation paper in its origin, as between John E. Kimpton and the defendant; but the plaintiff, as the jury found, was not aware…
1Opinion of the Court
The opinion of the court was delivered by
Peck, J..
The note in suit having been delivered to the plaintiff by John E. Kimpton as an indemnity to the plaintiff for signing the $1,000 note with Hobson as surety for John E. Kimpton, the plaintiff has a right to hold it and make it available as such indemnity, until he is fully indemnified from such liability incurred upon the faith of it, unless by some new agreement or transaction by him, he has lost that right. The rights of the plaintiff are not affected by the fact that the note in suit, as between the defendant and John E. Kimpton, was an…
2Cited by6 opinions
- In Re ThayerUnited States Bankruptcy Court, D. Vermont · 1984
- Robinson v. LeachSupreme Court of Vermont · 1895
- Wolinsky v. Bradford National Bank (In Re McQueen)United States Bankruptcy Court, D. Vermont · 1983
- Gilland v. HoneywellNebraska Supreme Court · 1918
- Glinka v. Federal Deposit Insurance Co. (In Re Hawkins)United States Bankruptcy Court, D. Vermont · 1993
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