Cox v. Jeffries
Missouri Court of Appeals
Appeal from, the Bade Circuit Court. — Hon. W. M. Holland, Special Judge. (1) The object of the statute providing for exon-erations of securities on bonds, bills and notes, upon notice to persons having a right of action thereon, etc., “is to secure the party giving the notice against liability to pay the money when it might be collected from the principal, or more than his proportionate part when it is to be collected from several co-securities.”
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Appeal from, the Bade Circuit Court. — Hon. W. M. Holland, Special Judge. (1) The object of the statute providing for exon-erations of securities on bonds, bills and notes, upon notice to persons having a right of action thereon, etc., “is to secure the party giving the notice against liability to pay the money when it might be collected from the principal, or more than his proportionate part when it is to be collected from several co-securities.” The statute has no application where the insolvency of the principal is conceded. Berry v. Barret, 18 Mo. 146, par. 4. (2) Our statute is but…
1Opinion of the CourtSmith, P. J.
This is an action which was commenced before a justice, of the peace by the plaintiff, who is the executor of the estate of Jaeob Cox, deceased, against the defendant on a promissory note executed by one J. J. Purdy as principal and the defendant as surety thereon to the said Jacob Cox in his lifetime, for $150 payable one day after date. Shortly after the plaintiff became the executor of the said estate he notified the defendant to pay said note, and the latter requested of the former to indulge him until he could make some arrangement with Purdy in respect to the payment of the note. It…
2Cases cited7 opinions
- Perry v. BarretSupreme Court of Missouri · 1853
- Chaplin v. BakerIndiana Supreme Court · 1890
- Brown v. KirkMissouri Court of Appeals · 1886
- Hickam v. HollingsworthSupreme Court of Missouri · 1853
- Nichols v. DouglassSupreme Court of Missouri · 1843
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3Cited by1 opinion
- Martinsburg Bank v. Bunch and Boil.Missouri Court of Appeals · 1923