McClure v. Johnson

Opinion of the court by

McAtbe, J.:

A rehearing haying been granted in this case, it has been by the court re-examined mainly touching the weight of authorities upon the first proposition of-the syllabus, to-wit, that:

“In this Territory, under the statute, as well as at common law, the right of action of the surety who has discharged the promissory note of his principal, is against the principal upon the note, and not upon an implied promise to pay. A surety who pays is subrogated to all the rights of the holder of the note, one of which is the possession of the promissory note, and the right…