Wright v. Johnson
New York Supreme Court
Case of guaranty. One Nathan Stickney was the holder of a contract executed by the agent of a landholder for the sale of a small tract of land, which he surrendered to the agent and took a new contract from him, by which the agent agreed to convey the same lands, about 80 or 90 acres, to James Johnson, the defendant in this cause.
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Case of guaranty. One Nathan Stickney was the holder of a contract executed by the agent of a landholder for the sale of a small tract of land, which he surrendered to the agent and took a new contract from him, by which the agent agreed to convey the same lands, about 80 or 90 acres, to James Johnson, the defendant in this cause. On the 20th July, 1826, an agreement under seal was entered into by Johnson and Stickney, by which, after reciting the above facts, is was agreed that Johnson should furnish Stickney, as he might require, with the sum of $350; that Stickney should build a saw mill…
1Opinion of the Court
By the Court, Nelson, J.
By the terms of the agreement, the defendant was surety or guarantor for Stickney for a loan of money to the extent of $200, to any person who would make the advance upon the terms mentioned in the agreement. It was said on the agreement that the defendant was the debtor of Stickney, and that the loan was to the defendant as principal, because, by the original agreement, he was *516to advance $350 to Stickney. But for aught that appears, he may have advanced that sum previous to giving the guaranty; and the fact of requiring Stickney’s interest in the con-lrac^ t0 be…
2Cited by20 opinions
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- Kingsbury v. . WestfallNew York Court of Appeals · 1875
- Locke v. McVeanMichigan Supreme Court · 1876
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