Aultman & Taylor Co. v. Smith
Missouri Court of Appeals
Appeal from the Bates Circuit Court. — Hon. Chas. ~W. Sloan, Judge. (1) The first instruction given on behalf of the -defendant is erroneous. The law in this state is, that in order to release the surety the extension must not only have been for a valuable consideration, but must-also have been for a definite period of time.
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Appeal from the Bates Circuit Court. — Hon. Chas. ~W. Sloan, Judge. (1) The first instruction given on behalf of the -defendant is erroneous. The law in this state is, that in order to release the surety the extension must not only have been for a valuable consideration, but must-also have been for a definite period of time. West v. Brison, 99 Mo. 684, 693. (2) The instruction is bad, for the further reason that there was no proof at all that there was a valuable consideration moving to plaintiff for the extension, and nothing in the evidence to base-this instruction on. 2 Benjamin on Sales…
1Opinion of the CourtSmith, P. J.
— In 1882 plaintiff, Aultman & Taylor Company, sold some machinery to James Nestlerode and Zenos Smith (a brother of defendant, O. K. Smith), and took notes of the two Smiths and Nestle-rode for the purchase price. In 1884 defendant Smith and Nestlerode, who together then had possession of the machinery, wanted to sell it to Braxton Bros., but could not, as plaintiff had a mortgage on it. In order to enable Smith and Nestlerode to sell the machinery, an extension was given and new notes were taken. All the notes were signed on their face by Braxton Bros., James Nestlerode and C. K. Smith.…
2Cases cited30 opinions
- Waldhier v. Hannibal & St. Joseph RailroadSupreme Court of Missouri · 1880
- Iron Mountain Bank v. MurdockSupreme Court of Missouri · 1876
- Fulkerson v. ThorntonSupreme Court of Missouri · 1878
- Crews v. LacklandSupreme Court of Missouri · 1878
- Glass v. GelvinSupreme Court of Missouri · 1883
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3Cited by8 opinions
- Jacquin v. Grand Avenue Cable Co.Missouri Court of Appeals · 1894
- James Halpin Manufacturing Co. v. School District of CaliforniaMissouri Court of Appeals · 1893
- Cummings v. Badger Lumber Co.Missouri Court of Appeals · 1908
- First National Bank v. WellsMissouri Court of Appeals · 1903
- Byerley v. Metropolitan Street Railway Co.Missouri Court of Appeals · 1913
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