Wilson v. Bank of Orleans
Supreme Court of Alabama
Error to the Chancery Court at Montgomery. The bill was filed by the plaintiff in error, and charges, that he was the accommodation indorser of a bill of exchange for ¡$5,194 10, drawn by Whitman & Hubbard, and discounted for their benefit by the Bank of Orleans. That the bill was protested for non-payment, and judgment obtained thereon against complainant, in the name of Nisbet, an officer of the Bank.
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Error to the Chancery Court at Montgomery. The bill was filed by the plaintiff in error, and charges, that he was the accommodation indorser of a bill of exchange for ¡$5,194 10, drawn by Whitman & Hubbard, and discounted for their benefit by the Bank of Orleans. That the bill was protested for non-payment, and judgment obtained thereon against complainant, in the name of Nisbet, an officer of the Bank. That after judgment, and whilst execution was running against all the parties, it was agreed between the bank and Whitman, that the execution should be staid, and that Hubbard and Whitman…
1Opinion of the CourtOrmond, J.
The defence set up in discharge of the judgment; is one which has frequently been presented in this court of late years, — that the surety has been discharged by the act of the creditor, giving time to the principal debtor, without his consent. To the success of this defence, it is necessary to establish, that a valid, binding contract hasbeen made between the creditor and the principal debtor, without the consent of the surety, by which the contract to which he was a party, has been altered ; as, where the time of payment is prolonged. This discharges the surety, because it not only…
2Cases cited1 opinion
- Carpenter v. DevonSupreme Court of Alabama · 1844
3Cited by5 opinions
- H. H. Hitt Lumber Co. v. Cullman Property Co.Supreme Court of Alabama · 1914
- Alabama Great Southern R. R. v. ProutySupreme Court of Alabama · 1907
- Summerhill v. TappSupreme Court of Alabama · 1875
- Jordan v. OwenSupreme Court of Alabama · 1855
- Keep v. Kelly & LevinSupreme Court of Alabama · 1856