Morse v. Hovey
New York Court of Chancery
These causes were precisely similar, and were heard together. The bill in the first cause was filed in March, 1843, and set forth the following case: On the 11th day of December, 1835, the defendant, Hovey, loaned $1212 to Sylvester Thayer, and to secure its payment, a negotiable promissory note of that date was made by Thayer, which the complainants signed, as his sureties, and thereby the makers of the note promised to pay to Hove}?1 $1250, in one year from its date, with…
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These causes were precisely similar, and were heard together. The bill in the first cause was filed in March, 1843, and set forth the following case: On the 11th day of December, 1835, the defendant, Hovey, loaned $1212 to Sylvester Thayer, and to secure its payment, a negotiable promissory note of that date was made by Thayer, which the complainants signed, as his sureties, and thereby the makers of the note promised to pay to Hove}?1 $1250, in one year from its date, with interest. In January, 1842, a suit on the note was commenced against all the makers, in the Supreme Court, in the name…
1Opinion of the Court
The Assistant Vice-Chancellor.
Before proceeding to the more substantial grounds of demurrer, it will be well to consider that founded upon the omission to make Thayer a party. His discharge under the Bankrupt Act fully absolves him from liability to the defendant upon the note in question. I was pressed at the hearing to examine the constitutionality of the late Bankrupt Act, both in reference to its‘voluntary principle, and its operation upon existing contracts ; but I felt bound to decline to enter upon that field, because its ultimate and controlling exposition must come from the federal…
2Cases cited5 opinions
- Miller v. McCanNew York Court of Chancery · 1839
- Perrine v. StrikerNew York Court of Chancery · 1839
- Morse v. HoveyNew York Court of Chancery · 1841
- Bulkley v. Van WyckNew York Court of Chancery · 1836
- Stephenson v. StephensonNew York Court of Chancery · 1837