South Omaha National Bank v. Wright
Nebraska Supreme Court
Appeal from the district court of Douglas county. Heard below before Walton, J. The facts are stated by the commissioner.
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Appeal from the district court of Douglas county. Heard below before Walton, J. The facts are stated by the commissioner. A creditor is in equity entitled to the benefit of any security for the payment of a debt given by the principal debtor to the surety, although the creditor did not originally rely upon the credit of such security or even know of its existence; and-a creditor has an equitable right to be substituted to the benefit of any such security for a debt which the principal debtor has given to his surety. (Sheldon, Subrogation, sec. 154; Richards v. Yoder, 10 Neb., 431; Curtis v.…
1Opinion of the Court
Ragan, C.
On the 7th, of January, 1891, S. G. Wright aud A. J. Baldwin executed and delivered their promissory note to-the South Omaha National Bank for the sum of $3,000, due in ninety days. This note Flora M. Wright signed as surety. October 3, 1891, Wright & Baldwin executed and *25delivered another note to the said bank for $2,500, due thirty days after date. On the 10th day of January, 1891, Wright & Baldwin executed and delivered their note for $1,000 to Flora M. Wright, due in ninety days. This note was given for money borrowed by Wright & Baldwin of Flora M. Wright. On the 9th of…
2Cases cited3 opinions
- Orden v. DurhamCalifornia Supreme Court · 1868
- Haven v. Foley & PapinSupreme Court of Missouri · 1853
- Haven v. FoleySupreme Court of Missouri · 1854
3Cited by8 opinions
- Rice v. WintersNebraska Supreme Court · 1895
- Martin v. HickenlooperUtah Supreme Court · 1936
- Arlington State Bank v. PaulsenNebraska Supreme Court · 1899
- Equitable Life Assurance Society of the United States v. PersonNebraska Supreme Court · 1939
- Skinkle v. HuffmanNebraska Supreme Court · 1897
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