White v. Banks
Supreme Court of Alabama
Error to tbe Circuit Court of Tuskaloosa, Tried before tbe Hon. G-eo. D. Shortridge. MotioN by tbe defendant in error against tbe plaintiff, for a summary judgment under the statute, upon the following state of facts: In tbe year 1838, tbe firm of Cummings, Pitcher & Co. made an assignment of their property, in trust for tbe payment of their debts.
Read the full summary
Error to tbe Circuit Court of Tuskaloosa, Tried before tbe Hon. G-eo. D. Shortridge. MotioN by tbe defendant in error against tbe plaintiff, for a summary judgment under the statute, upon the following state of facts: In tbe year 1838, tbe firm of Cummings, Pitcher & Co. made an assignment of their property, in trust for tbe payment of their debts. Tbe creditors were divided into three classes; and tbe deed required that they should execute the assignment within a specified time, and release the assignors, or should receive no part of the proceeds of the trust property ; it also reserved to…
1Opinion of the CourtGoldthwaite, J.
— Sureties have the right to claim contribution from each other, in proportion to tbe amount paid by each upon tbe common debt; and this right is tbe result, not of any implied contract between tbe parties, but of an acknowledged principle of natural justice, which requires that those ,who voluntarily assume a common burden should bear it in equal proportions. Burge on Suretyship, 384; Story’s Equity, § 493. It*is upon this principle, that sureties are entitled to the benefit of all securities which have been taken by any one of them, to indemnify himself against the principal debt. Theobald…
2Cases cited2 opinions
- Wakeman v. GroverNew York Court of Chancery · 1832
- Hazard v. FranklinSupreme Court of Alabama · 1841
3Cited by11 opinions
- Vandiver & Co. v. PollakSupreme Court of Alabama · 1894
- Waters v. WatersSupreme Court of Connecticut · 1930
- Crawford v. KirkseySupreme Court of Alabama · 1874
- Scott v. McGriffSupreme Court of Alabama · 1930
- Jemison v. Governor of AlabamaSupreme Court of Alabama · 1872
6 more not listed; retrieve them via the Exa API.