Barman v. Carhartt
Michigan Supreme Court
Case made after judgment from Lapeer Circuit. Action upon the guaranty of a note. To maintain his action, Barman gave in ^evidence the note in the following words: “Six months after date, for value received I promise to pay to James Carhartt or bearer, two hundred dollars, with use: to secure the above payment I have this day executed a mortgage to said Carhartt. Hadley, Sept. 11, 1855. 1 J. H. Houghtaling.”
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Case made after judgment from Lapeer Circuit. Action upon the guaranty of a note. To maintain his action, Barman gave in ^evidence the note in the following words: “Six months after date, for value received I promise to pay to James Carhartt or bearer, two hundred dollars, with use: to secure the above payment I have this day executed a mortgage to said Carhartt. Hadley, Sept. 11, 1855. 1 J. H. Houghtaling.” Upon the back of which was the following: “I hereby guaranty the collection of the within note. James Carhartt.” The plaintiff then also gave in evidence the mortgage mentioned in the…
1Opinion of the Court
Campbell J.:
The only question of importance in this case is, whether under the guaranty of collection the guarantor could be held until resort had been made to the mortgage which was given as collateral to the note and referred to in it.
By this mortgage a special fund was set apart, out of which, so far as it went, the holder of the note had secured to him the means of collecting it. We do not think it reasonable to assume that, in any such case, a guaranty of collection refers merely to the personal responsibility of the debtor. When with the guaranty itself the guarantor furnished the means…
2Cited by9 opinions
- Johnson v. CookWashington Supreme Court · 1901
- Dewey v. W. B. Clark Investment Co.Supreme Court of Minnesota · 1892
- Hebert v. BulteMichigan Supreme Court · 1880
- Britan v. Straus Bros. & Co.Michigan Supreme Court · 1909
- Dye v. Farm Mortgage Inv. Co.Court of Appeals for the Tenth Circuit · 1934
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