Train v. Emerson

Three of four sureties of an insolvent principal, who had paid the principal’s debt, sued the other surety to recover, on the note which contained the contract of indebtedness, one fourth of the amount so paid. The suit was brought more than four years after the payment, and within six years of the ma!urity of the note; and the question is whether the action is barred. If the suit is good as one on the note, then the-period of limitation is six years, and the sureties paying the note are not barred of their right to have contribution of their cosurety. On the other hand, if the plaintiffs’…