In re Hyndman
District Court, W.D. Tennessee
In Bankruptcy. It appeared by the agreed statement of facts and the register’s certificate that the creditors objected to the discharge of the bankrupt because his assets had neither paid nor were equal to SO per centum of the debts upon which he was liable as principal debtor.
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In Bankruptcy. It appeared by the agreed statement of facts and the register’s certificate that the creditors objected to the discharge of the bankrupt because his assets had neither paid nor were equal to SO per centum of the debts upon which he was liable as principal debtor. One of the debts proved against him was a note in the following words, viz.: “$1,619.95. “Twelve months after date we promise to pay to Mrs. M. F. Northern, guardian, etc., the sum of $1,619.95, for value received, with interest from this date; and, in case said interest be not paid at maturity, then the same to become…
1Opinion of the Court
Hammond, D. J.
The first question in importance is whether the bankrupt was so liable as principal debtor on the Northern note that the whole of it must be counted against him; because, if this point be against him, it is conceded he cannot be discharged. I have no doubt that, in a controversy between him and the creditor, he would be held to be a principal debtor; for, as between them, no contract for surety-ship is shown to have been entered into. In form it is clearly not a contract of suretyship, but the opposite; and the creditor seems to have had no knowledge of any agreement between the…
2Cases cited4 opinions
- Smith v. SheldenMichigan Supreme Court · 1876
- Hall v. HallIndiana Supreme Court · 1870
- Crafts v. . MottNew York Court of Appeals · 1851
- In re KahleyDistrict Court, W.D. Wisconsin · 1872