Stuart v. President, Directors & Co. of the Mechanics' & Farmers' Bank
New York Supreme Court
APPEAL from the Court of Chancery. On-the 19th of October, 1819, the respondents filed their hill in the Court of Chancery, against the appellants, in which they stated, that the appellant, Josephus B. Stuart, an(] oae Gilbert Stewart, being, previous to the 24th of 7 07 r March, 1819, indebted to the respondents in large sums of money, on notes then in their banking house, either as drawers or endorsers, a negotiation took place between the said Gilbert and Josephus B.…
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APPEAL from the Court of Chancery. On-the 19th of October, 1819, the respondents filed their hill in the Court of Chancery, against the appellants, in which they stated, that the appellant, Josephus B. Stuart, an(] oae Gilbert Stewart, being, previous to the 24th of 7 07 r March, 1819, indebted to the respondents in large sums of money, on notes then in their banking house, either as drawers or endorsers, a negotiation took place between the said Gilbert and Josephus B. Stuart, and the respondents) for an additional loan of 6,500 dollars; and the respondents thereupon agreed to loan to the…
1Opinion of the Court
Spencer, Ch. J.
The grounds assumed by the appel-' lanl’s counsel for the reversal of the decree, are :
1. That the appellant, being surety only for the debt of .6,500 dollars due from G. S. to the respondents, and they hgving, without the appellant’s knowledge and consent, extended the time for the payment of the debt,, by a negotiation between them, whereby the. appellant is prejudiced, and exposed to the eventual loss of the debt, the appellant and the mortgage he gave, are discharged, and exonerated from the debt..
*5052. That the loan made to G. S., on the 24th of March, 1819, of $6,500 by the…
2Cited by25 opinions
- Tumey v. OhioSupreme Court of the United States · 1927
- Pratt v. AdamsNew York Court of Chancery · 1839
- State ex rel. Cook v. HouserWisconsin Supreme Court · 1904
- Dormitzer v. German Savings & Loan SocietyWashington Supreme Court · 1900
- M'Donald v. NeilsonCourt for the Trial of Impeachments and Correction of Errors · 1823
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