Mathews v. . Aikin
New York Court of Appeals
Appeal from the supreme court in equity. Abraham Aikin filed his bill in the court of chancery before the vice chancellor of the seventh circuit, against John Mathews and Oliver Orcutt, who appeared and defended, and against Edward Aikin, Avho suffered the bill to be taken as confessed.
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Appeal from the supreme court in equity. Abraham Aikin filed his bill in the court of chancery before the vice chancellor of the seventh circuit, against John Mathews and Oliver Orcutt, who appeared and defended, and against Edward Aikin, Avho suffered the bill to be taken as confessed. The case, so far as material to be stated, upon pleadings and proofs tvas as follows: On or before the 22d of November, 1837, Edward Aikin, Avho was the son of the complainant, executed to James Hasbrook a bond secured by mortgage on certain real estate, bearing date December 6,1856, conditioned for the…
1Opinion of the CourtJohnson, J.
It is a general and well established principle of equity, that a surety, or a party who stands in the situation of a surety, is entitled to be subrogated to all the rights and remedies of the creditor whose debt he is compelled to pay, as to any fund, lien, or equity which the creditor had against any other person or property on account of such debt. The general doctrine, as a rule of equity, is not controverted on the part of the appellants, but is fully conceded. It is insisted, however, by their counsel, that the guarantor in this instance did not become such at the request of the debtor ;…
2Cases cited2 opinions
- Norton v. CoonsNew York Supreme Court · 1846
- McKinstry v. CurtisNew York Court of Chancery · 1844
3Cited by29 opinions
- Morehouse v. . Brooklyn Heights R.R. Co.New York Court of Appeals · 1906
- Alberti v. MooreSupreme Court of Oklahoma · 1908
- Northrop v. . HillNew York Court of Appeals · 1874
- Arbogast v. HaysIndiana Supreme Court · 1884
- Bankers Surety Co. v. LinderSupreme Court of Iowa · 1912
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