Clark v. Ely
New York Court of Chancery
The case made by the pleadings and testimony was as follows. On the 18th of May, 1839, S. Crowell being indebted to A. L. Jordan, gave to him two promissory notes for $300 each, payable in six and twelve months, signed by E. S. Townsend as his surety. Soon after the notes were delivered, Crowell confessed a judgment to Townsend for $3000 to secure his liability on this and other notes, amongst which was one of $500 to the Wayne County Bank.
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The case made by the pleadings and testimony was as follows. On the 18th of May, 1839, S. Crowell being indebted to A. L. Jordan, gave to him two promissory notes for $300 each, payable in six and twelve months, signed by E. S. Townsend as his surety. Soon after the notes were delivered, Crowell confessed a judgment to Townsend for $3000 to secure his liability on this and other notes, amongst which was one of $500 to the Wayne County Bank. An execution was issued on this judgment and Crowell’s goods were sold under it. The sheriff received the purchaser’s notes for the proceeds by Townsend’s…
1Opinion of the Court
The Assistant Vice-Chancellor.
The defendants objected to the reading of Townsend’s testimony, unless the com- ] laiuant waived a decree against him, and also because Townsend was primarily liable to the complainant’s claim. As he permitted the bill to be taken as confessed, and thereby admits the demand, the objection is not well founded. (Bradley v. Root, 5 Paige’s R. 632.)
When Townsend transferred the notes in controversy to the respective defendants, a portion of them equal to the amount of the complainant’s notes against Crowell, belonged in equity to the payee of those notes, and to that…
2Cases cited9 opinions
- Coddington v. BayCourt for the Trial of Impeachments and Correction of Errors · 1822
- Bank of Salina v. BabcockNew York Supreme Court · 1839
- Rosa v. BrothersonNew York Supreme Court · 1833
- White v. ColeNew York Supreme Court · 1840
- Bank of Auburn v. ThroopNew York Supreme Court · 1821
4 more not listed; retrieve them via the Exa API.
3Cited by3 opinions
- Morrill v. MorrillSupreme Court of Vermont · 1880
- Holt v. Penacook Savings BankSupreme Court of New Hampshire · 1883
- Stevens v. Corn Exchange BankNew York Supreme Court · 1874