Bank of Utica v. Ives
New York Supreme Court
This was an action of assumpsit, tried at the Oneida circuit, in October, 1835, before the Hon. James Vandeupoel, one of the circuit judges. The suit was against the defendant as the endorser of a promissory note, made by Charles Morris & Co., for $500, dated 24th November, 1828, payable in ninety days. The defence set up was, that the defendant was discharged by indulgence given to the makers of the note.
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This was an action of assumpsit, tried at the Oneida circuit, in October, 1835, before the Hon. James Vandeupoel, one of the circuit judges. The suit was against the defendant as the endorser of a promissory note, made by Charles Morris & Co., for $500, dated 24th November, 1828, payable in ninety days. The defence set up was, that the defendant was discharged by indulgence given to the makers of the note. Charles Morris, one of the makers, testified that on the 20th July, 1829, finding himself embarrassed with his debts, and having many demands outstanding and considerable real estate, he…
1Opinion of the Court
By the Court,
Nelson, Ch. J.
The defence to the action in this case is, that the plaintiffs gave time to the principal debtor, Morris; the jury have found in favor of it, upon the facts, under correct instructions from the court. The only question, therefore, presented is, whether the evidence warranted the verdict. Mere indulgence at the will of the creditor, [503] extended to the debtor, in no way impairs the obligation of the surety; if it did, it would be a most inconvenient and oppressive rule, as then, suits must immediately follow the maturity of the paper. It is well settled, there *284must…
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