Sailly v. Elmore
New York Court of Chancery
This cause was heard on bill and answer. The facts, as admitted in the answer of the defendant, were as follows : In December, 1827, the complainant executed a note to the defendant with M’Cotter & Grant, as their surety, for $362,50, payable in 90 days. When the note fell due, M. ■& G. represented to the defendant that it was inconvenient for them to pay the note at that time, and requested him to wait 60 or 90 days longer.
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This cause was heard on bill and answer. The facts, as admitted in the answer of the defendant, were as follows : In December, 1827, the complainant executed a note to the defendant with M’Cotter & Grant, as their surety, for $362,50, payable in 90 days. When the note fell due, M. ■& G. represented to the defendant that it was inconvenient for them to pay the note at that time, and requested him to wait 60 or 90 days longer. The defendant promised to indulge them for the time they requested ; and that, in the mean time, he would not call on the complainant for payment; but no consideration…
1Opinion of the Court
The Chancellor.
It is now settled that the same principles, which in this court are sufficient to discharge the surety, may be plead by him as a defence to an action, on simple contract, in a court of law. But as this court had originally the exclusive jurisdiction in such cases it is no objection to a bill filed here, at this time, that the complainant has an adequate remedy or good defence at law. In the language of Lord Eldon: “ This court will not allow itself to be ousted of any part of its original jurisdiction because a court of law happens to fall in love with the same, or a similar…
2Cited by16 opinions
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- Minturn v. . Farmers' Loan and Trust Co.New York Court of Appeals · 1850
- Life Ass'n of America v. NevilleSupreme Court of Alabama · 1882
- Patty v. PeaseNew York Court of Chancery · 1840
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