Dey v. Martin
Supreme Court of Virginia
Appeal from decree of corporation court of Norfolk city. The facts are substantially these : In 1873 the Mercantile Bank of Norfolk, of which the appellant is now receiver, discounted for appellee, Martin, a note made by D. C. Barrand for $1,562.36, and upon which appellee was third endorser. The note at its maturity was protested for non-payment, and soon thereafter suit was instituted by the bank against the maker and endorsers.
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Appeal from decree of corporation court of Norfolk city. The facts are substantially these : In 1873 the Mercantile Bank of Norfolk, of which the appellant is now receiver, discounted for appellee, Martin, a note made by D. C. Barrand for $1,562.36, and upon which appellee was third endorser. The note at its maturity was protested for non-payment, and soon thereafter suit was instituted by the bank against the maker and endorsers. After the institution of the suit, the maker paid to the bank, on account of the note, the sum of $114.59, a portion of the principal and' the interest on the same…
1Opinion of the Court
Lewis, P.,
delivered the opinion of the court.
After stating the facts, he proceeded:
There is no doubt that, by the indulgence granted the maker of the note, the appellee as endorser thereon was discharged. An endorser of a note is a surety for the maker; and the doctrine is well established that any. change in the contract, however immaterial, and even although it be for his advantage, discharges the surety, if made without his consent.
An agreement to give time to the principal gives rise to the presumption that the surety has been delayed or hindered in the use of his rights and remedies,…
2Cases cited5 opinions
- Green v. BiddleSupreme Court of the United States · 1823
- Hoxie v. Home InsuranceSupreme Court of Connecticut · 1864
- Holland v. TrotterSupreme Court of Virginia · 1872
- Wallace v. RichmondSupreme Court of Virginia · 1875
- Vanlew v. BohannanCourt of Appeals of Virginia · 1826
3Cited by19 opinions
- Harris v. Citizens Bank & Trust Co.Supreme Court of Virginia · 1939
- Barnett v. BarnettSupreme Court of Virginia · 1887
- Smith's Adm'r v. Charlton's Adm'rSupreme Court of Virginia · 1851
- Canada v. BarksdaleSupreme Court of Virginia · 1888
- Christian & Gunn v. KeenSupreme Court of Virginia · 1885
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