Baxter v. Smack

Eoosevelt, Justice.

It would seem from the complaint, although .not distinctly stated, that one Roberts, being the owner of a bond and mortgage, assigned it to Baxter, the plaintiff, with an agreement at the same time, by the defendant Smack, indorsed on the back of the instrument, in these words : “I do hereby (first stating the consideration) guaranty the payment and collection of the principal and interest money of *184the bond and mortgage within assigned.” And the only question presented by the demurrer is, must the party taking such a guaranty first exhaust his remedy on the bond and…