Stuart v. Lancaster
Supreme Court of Virginia
Error to judgment of circuit court of city of Richmond, rendered July 11th, 1887, in an action at law wherein William A. Stuart was plaintiff, and Robert A. Lancaster was defendant. The action was brought upon a protested negotiable note for $5,000, dated July 25, 1881, and payable four months after the date thereof to the order of Henry M. Mathews, at the Bank of Lewisburg, West Virginia.
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Error to judgment of circuit court of city of Richmond, rendered July 11th, 1887, in an action at law wherein William A. Stuart was plaintiff, and Robert A. Lancaster was defendant. The action was brought upon a protested negotiable note for $5,000, dated July 25, 1881, and payable four months after the date thereof to the order of Henry M. Mathews, at the Bank of Lewisburg, West Virginia. The noté was made by the Greenbrier White Sulphur Springs company, a corporation chartered by the laws of West Virginia, and was endorsed by the said Henry M. Mathews, R. A. Lancaster, and W. A. Stuart, in…
1Opinion of the Court
Lewis, P.,
after stating the ease, delivered the opinion of the court.
Upon the facts disclosed by the record it is clear that the plaintiff is not entitled to recover. Nothing is better settled than that a binding agreement between the creditor and the principal debtor to extend the time of payment for a definite period discharges the surety, if made without his consent. And the reason is, that such extension of time varies the contract of the surety, and therefore operated to discharge him, even though the change be for his benefit.
Moreover, the surety is entitled upon paying the debt, when…
2Cases cited4 opinions
- Putnam v. LewisNew York Supreme Court · 1811
- Blair & Hoge v. WilsonSupreme Court of Virginia · 1877
- Dey v. MartinSupreme Court of Virginia · 1883
- Callaway's ex'or v. Price's adm'rSupreme Court of Virginia · 1879
3Cited by4 opinions
- Harris v. Citizens Bank & Trust Co.Supreme Court of Virginia · 1939
- Frank Herman & Co. v. WilliamsSupreme Court of Florida · 1895
- Livermon v. LloydSupreme Court of Virginia · 1931
- Remage v. MarpleWest Virginia Supreme Court · 1915