Gray's Executors v. Brown
Supreme Court of Alabama
ERROR to tbe Circuit Court of Tuskaloosa. Tried before tbe Hon. A. B. Moore. Assumpsit against tbe defendant in error, as endorser of a bill of exchange, drawn and accepted by Donoho & Payne, dated tbe 2d of June, 1840, and due twelve months thereafter. Tbe defendant pleaded: 1st. The general issue; 2d. Tbe statute of limitations; 3d.
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ERROR to tbe Circuit Court of Tuskaloosa. Tried before tbe Hon. A. B. Moore. Assumpsit against tbe defendant in error, as endorser of a bill of exchange, drawn and accepted by Donoho & Payne, dated tbe 2d of June, 1840, and due twelve months thereafter. Tbe defendant pleaded: 1st. The general issue; 2d. Tbe statute of limitations; 3d. That time had been given the drawers and acceptors by the testator of the plaintiffs, postponing the payment of tbe bill, by virtue of an agreement entered into between them, without the defendant’s consent, and which agreement was based upon a new and valid…
1Opinion of the CourtChilton, C. J.
When this case was before us at a previous term, (see 18 Ala. Rep. 641,) we held, that an agreement founded on a valuable consideration, entered into between the creditor and principal debtor to a bill or note, to extend the day of payment beyond the time when it fell due, was such an alteration of the contract as discharged the security ; and this, irrespective of the length of time the payment was postponed, or whether it operated to the prejudice of the security or not. We further held, that the refusal of the creditor to sell the propertjr on which he had taken a deed of trust to secure…
2Cases cited9 opinions
- Mowhawk Bank v. R. & P. AtwaterNew York Court of Chancery · 1830
- Wallis v. RheaSupreme Court of Alabama · 1846
- Brown v. BrownSupreme Court of Alabama · 1843
- Cook v. DyerSupreme Court of Alabama · 1842
- Haden v. BrownSupreme Court of Alabama · 1851
4 more not listed; retrieve them via the Exa API.
3Cited by18 opinions
- Holt & Chambers v. BancroftSupreme Court of Alabama · 1857
- Butts v. BroughtonSupreme Court of Alabama · 1882
- Nance v. GraySupreme Court of Alabama · 1904
- Borden v. Fletcher's EstateMichigan Supreme Court · 1902
- Moses Bros. v. Home Building & Loan Ass'nSupreme Court of Alabama · 1893
13 more not listed; retrieve them via the Exa API.