H. E. Atterbury v. A. S. v. Carpenter

MERRILL, Circuit Judge.

Appellant Atterbury pledged stock as-security for a loan made to another. The-borrower defaulted. Atterbury (with-jurisdiction founded upon diversity of' citizenship) has brought this action to-restrain the pledgee from selling the-stock. He contends that he has been discharged as surety because of changes-made in the loan agreement without his-consent. The district court held that Atterbury was an indemnitor and not a surety, and therefore was not entitled to-be discharged. The basic question upon-this appeal is whether the district court, erred in that holding.

The…