Dearborn v. Parks
Supreme Judicial Court of Maine
This action was for money had and received by the defendant, to the use of the plaintiff, as treasurer of Monmouth Academy. It was commenced in October 1823; an d wastie d before Weston J. upon the general issue, and the plea of the statute of limitations. It appeared that in December 1813, one Ileald purchased of the Trustees of the Academy a tract of land, for which he gave his promisory notes, payable in four successive years, with interest annually.
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This action was for money had and received by the defendant, to the use of the plaintiff, as treasurer of Monmouth Academy. It was commenced in October 1823; an d wastie d before Weston J. upon the general issue, and the plea of the statute of limitations. It appeared that in December 1813, one Ileald purchased of the Trustees of the Academy a tract of land, for which he gave his promisory notes, payable in four successive years, with interest annually. A few months afterwards, he sold this land to the defendant, in whose hands as much of the purchase-money was retained as would pay offthe…
1Opinion of the Court
Weston J.
delivered the opinion of the Court.
In Leonard v. Vredenburg, cited in the argument, Kent C. J. distinguishes three classes of cases, in which one person undertakes *84to pay for another. • 1. Where the principal and collateral promises are made at the same time, and are founded upon the same consideration. 2. Where the collateral promise is subsequently made, in which case, some further consideration must be shewn. 3. Cases in which the promise to pay the debt of another, arises from some new and original consideration of benefit or harm, moving between the newly contracting parties.…
2Cited by6 opinions
- Morgan v. Overman Silver Mining Co.California Supreme Court · 1869
- Becker v. KnudsonWisconsin Supreme Court · 1893
- Allen v. TraylorCourt of Appeals of Texas · 1915
- Osterling v. Allegheny Trust Co.Supreme Court of Pennsylvania · 1918
- Lovett v. LesslerNew Jersey Court of Chancery · 1926
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