Armstead v. Thomas
Supreme Court of Alabama
Error to the County Court of Lauderdale, Assumpsit by Thomas against Armstead, as one of the makers of a joint and several promissory note, dated 1st May, 1839, payable 17 months after date, pigned by one Lanier, as principal, and by Armstead and oiie McKenzie, as sureties, negotiable and payable at the Mississippi Union Bank, at Jackson.
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Error to the County Court of Lauderdale, Assumpsit by Thomas against Armstead, as one of the makers of a joint and several promissory note, dated 1st May, 1839, payable 17 months after date, pigned by one Lanier, as principal, and by Armstead and oiie McKenzie, as sureties, negotiable and payable at the Mississippi Union Bank, at Jackson. At the trial, on the general issue and other pleas, it was in evidence, that after the maturity of the note, the plaintiff, Thomas, to whom, or order, the note is payable, had indorsed it to one Davis, and that Davis, when holding the note, called on Lanier,…
1Opinion of the CourtGoldthwaite, J.
The general rule is, that a surety will be discharged if the creditor stipulates in a binding manner, upon a sufficient consideration, with the principal debt- or, to give day of payment, without the consent of the surety. [1 Story’s Eq. § 326.] It will readily be perceived, the evidence in this case does not bring it within the rule, because there is no pretence to say that any engagement was entered into to give the principal debtor further day. The agreement was that the surety should not be sued until a particular period, or rather, that if suit against him was delayed until that period,…
2Cited by2 opinions
- Oliver v. StateSupreme Court of Alabama · 1850
- Jerauld v. TrippetIndiana Supreme Court · 1878