Commercial Bank v. Wood
Missouri Court of Appeals
Appeal from the Lafayette Circuit Court. — Hon. Richard Field, Judge. (1) A valid agreement for an extension of time, for a valuable consideration, and for a definite period, releases the security not assenting thereto. Parsons on Bills and Notes, 238; Ins. Co. v. Carson et al., 31 Mo. 218; Smarr v. Schnitter et al., 38 Mo. 478; Stilhvell v. Aaron, 69 Mo. 539; Bank v. Leavitt, 65 Mo. 562; Ins. Co. v. Hatick, 83 Mo. 21; Ins.
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Appeal from the Lafayette Circuit Court. — Hon. Richard Field, Judge. (1) A valid agreement for an extension of time, for a valuable consideration, and for a definite period, releases the security not assenting thereto. Parsons on Bills and Notes, 238; Ins. Co. v. Carson et al., 31 Mo. 218; Smarr v. Schnitter et al., 38 Mo. 478; Stilhvell v. Aaron, 69 Mo. 539; Bank v. Leavitt, 65 Mo. 562; Ins. Co. v. Hatick, 83 Mo. 21; Ins. Co. v. Hauck, 71 Mo. 465. (2) The payment of interest in advance is a sufficient consideration to support .a promise or agreement for the extension of time. Ins. Co. v.…
1Opinion of the CourtEllison, J.
— Plaintiff is indorsee of a negotiable promissory note and brought this action against defendant, an indorser who had waived demand, notice and protest. Plaintiff prevailed in the trial court and defendant has appealed.
The note was executed July 30, 1886, due three years after date, to defendant, by one Patton who, to secure the payment thereof, executed to defendant a mortgage or deed of trust on a certain lot in Kansas *217City. ' Patton sold the lot, in September, 1886, to one McKain who assumed the payment of the mortgage and •of the note in suit secured thereby. McKain after-wards, in…
2Cases cited15 opinions
- Keller v. AshfordSupreme Court of the United States · 1890
- Calvo v. . DaviesNew York Court of Appeals · 1878
- Union Mutual Life Insurance v. HanfordSupreme Court of the United States · 1892
- King v. BaldwinNew York Court of Chancery · 1817
- Heim v. VogelSupreme Court of Missouri · 1879
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3Cited by9 opinions
- Fanning v. MurphyWisconsin Supreme Court · 1906
- Wayman v. JonesMissouri Court of Appeals · 1894
- Hoffman v. HabighorstOregon Supreme Court · 1907
- Wonderly v. GiesslerMissouri Court of Appeals · 1906
- Marquardt Savings Bank v. FreundMissouri Court of Appeals · 1899
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