Taylor v. Morrison

—This was a suit by a surety against his co-surety for contribution. The record shows, that the plaintiff received from the principal debtor full indemnity by mortgage. This mortgage he released, and received therefor a promissory note. The mortgage enuring to. the benefit of all the sureties, the one who received it' must be regarded as a trustee for the other, and is bound to the exercise of the duties which attach to that relation.—Theobald on Prin. & Sur. 95, 98; Baker v. Briggs, 8 Pick. 129; Haynes v. Wood, 4 John. Ch. 129. The security which the plaintiff received he had no right to…