Hyde v. Equitable Life Assurance Society of United States
New York Supreme Court
Action to compel the principal debtor by payment to the creditor to cause the exoneration of the accommodation guarantors1 of certain liens upon the note of the accommodation maker. Motion to restrain the prosecution of the creditor’s actions against the accommodation parties pendente lite.
1Opinion of the CourtBischoff, J.
The action is to secure the exoneration of the plaintiffs Fitzgerald, Coler and Searles, and the testators respectively of the remaining plaintiffs, as guarantors of loans made nominally to the defendant Turner, their liability upon the guaranty having been assumed upon the promise of the defendant the Equitable Life Assurance Society, acting by the executive committee of its board of directors, to indemnify and to ' save them harmless therefrom. The loans were made by the Mercantile Trust Company to Turner, its employee, for the accommodation of the Society; and the plaintiffs ask that the…
2Cases cited18 opinions
- Thomas v. . ScuttNew York Court of Appeals · 1891
- Curtis and Others v. . LeavittNew York Court of Appeals · 1857
- United States v. American Bell Telephone Co.Supreme Court of the United States · 1897
- Gamble v. Queens County Water Co.New York Court of Appeals · 1890
- Reynolds v. Crawfordsville First National BankSupreme Court of the United States · 1884
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3Cited by3 opinions
- Elias v. ClarkeCourt of Appeals for the Second Circuit · 1944
- State Ex Rel. Barrett v. First National BankSupreme Court of Missouri · 1923
- People's Trust Co. v. O'MearaAppellate Division of the Supreme Court of the State of New York · 1922