Porter v. Carpenter
Supreme Court of New Hampshire
Assumpsit, upon the following subscription-paper, to which the defendant’s name was subscribed for eight shares: “ The undersigned agree to pay the sums of money set against our names respectively to Royal H. Porter, George W. Tilden, and Henry O. Cooledge [the plaintiffs], who are hereby appointed trustees for the purpose of holding, managing, and expending the money hereby subscribed, and the property which may be purchased therewith, or in which the same may be invested.
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Assumpsit, upon the following subscription-paper, to which the defendant’s name was subscribed for eight shares: “ The undersigned agree to pay the sums of money set against our names respectively to Royal H. Porter, George W. Tilden, and Henry O. Cooledge [the plaintiffs], who are hereby appointed trustees for the purpose of holding, managing, and expending the money hereby subscribed, and the property which may be purchased therewith, or in which the same may be invested. This subscription is made upon the following conditions, — that when the sum of fifty thousand dollars is subscribed,…
1Opinion of the CourtFostbu, J.
One of the conditions, expressed in the paper, upon which the defendant was to pay his subscription, was, that Fairbanks, Buss, Adams, and Humphrey, before the commencement of buildings, should furnish proper guarantees for the acceptance and fulfilment of the lease to be made to them ; and the question tried was whether they did so. It is very plain that the word guarantees is used here as the equivalent of guaranties, that is, promises, warranties, securities outside the obligors themselves, and not as the correlative of guarantor, which would make the stipulation senseless.
What Fairbanks,…
2Cited by1 opinion
- Green v. ReaganSupreme Court of Louisiana · 1880