Lowman v. . Yates
New York Court of Appeals
Appeal from General Term of Supreme Court, Sixth District. The action was tried before the Hon. JohnM. Parker, Justice, and a jury, at the Chemung Circuit, in February, 1865, and was brought upon a bond made by Anson C. Ely, as principal, and John Parmenter, deceased, as surety, dated June 13, 1854. The condition was that Ely should, on or before July 1, 1855, pay, take up, and deliver to Lowman, two mortgages executed by him, amounting to $10,000, with interest upon them…
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Appeal from General Term of Supreme Court, Sixth District. The action was tried before the Hon. JohnM. Parker, Justice, and a jury, at the Chemung Circuit, in February, 1865, and was brought upon a bond made by Anson C. Ely, as principal, and John Parmenter, deceased, as surety, dated June 13, 1854. The condition was that Ely should, on or before July 1, 1855, pay, take up, and deliver to Lowman, two mortgages executed by him, amounting to $10,000, with interest upon them from January 1, 1854. The defence interposed was that the Plaintiff, without Parmenter’s consent, on the 8th day of July,…
1Opinion of the CourtMiller, J.
The principle is well settled, that where a creditor, by a valid and binding agreement between himself and the principal debtor, without the consent of the surety, extends the time of payment, and thus ties up the hands of the creditor, that the surety is thereby discharged (Grahn v. Niemcewicz, 11 Wend, 312; Colemard v. Lamb, 15 Wend. 329; Miller v. McCan, 7 Paige, 451; Bangs v. Strong, 7 Hill, 250; Dorlon v. Christie, 39 Barb. 610; 479 ; Fox v. Parker, 44 Barb. 541; Smith v. Townsend, 25 N. Y. 479 Billington v. Wagonner, 33 N. Y. 32).
The agreement must be one which can be enforced, and of…
2Cases cited7 opinions
- Nichols v. . MichaelNew York Court of Appeals · 1861
- Billington v. . WagonerNew York Court of Appeals · 1865
- Miller v. McCanNew York Court of Chancery · 1839
- Smith v. . TownsendNew York Court of Appeals · 1862
- Dorlon v. ChristieNew York Supreme Court · 1862
2 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- Olmstead v. . LatimerNew York Court of Appeals · 1899
- Shipman v. KelleyAppellate Division of the Supreme Court of the State of New York · 1896
- Cohn v. SpitzerAppellate Division of the Supreme Court of the State of New York · 1911
- Metropolitan Life Insurance v. StimpsonAppellate Division of the Supreme Court of the State of New York · 1898
- Douglass v. FerrisNew York Supreme Court · 1892
6 more not listed; retrieve them via the Exa API.