Bank v. Goldstein
Missouri Court of Appeals
Appeal from the Jasper Circuit Court.- — Hon. J. D. Perkins, Judge. (1) There is a well-recognized distinction between an offer or proposition of guaranty and a direct promise of guaranty. The former requires notice of acceptance and acting upon it while the latter does not. The bond in this case is a direct promise of guaranty. It creates an original liability. Brandt on Suretyship and Guar., sec. 162, 164, 165, 166, 167 and authorities cited.
Read the full summary
Appeal from the Jasper Circuit Court.- — Hon. J. D. Perkins, Judge. (1) There is a well-recognized distinction between an offer or proposition of guaranty and a direct promise of guaranty. The former requires notice of acceptance and acting upon it while the latter does not. The bond in this case is a direct promise of guaranty. It creates an original liability. Brandt on Suretyship and Guar., sec. 162, 164, 165, 166, 167 and authorities cited. Where it is an absolute and conclusive agreement of guaranty, no notice of acceptance is necessary. Smith v. Anthony, 5 Mo. 1. c. 506; Barker v.…
1Opinion of the CourtSmith, P. J.
The case disclosed by the record before us may be briefly stated in this wise: The plaintiff, a banking institution, was informed by one A. Goldstein, a grain dealer, that he would thereafter make application to it from time to time for the loan of such sums of money as he should need to carry on his business. It is to be inferred that the plaintiff was unwilling to make the requested loans unless the payment of the same were guaranteed by a third person, for it appears that before the plaintiff made such loans that said Goldstein inclosed to defendant for execution by him a certain written…
2Cases cited8 opinions
- Davis Sewing MacHine Co. v. RichardsSupreme Court of the United States · 1885
- Central Savings Bank v. ShineSupreme Court of Missouri · 1871
- Rankin v. ChildsSupreme Court of Missouri · 1846
- Barker v. ScudderSupreme Court of Missouri · 1874
- F. Mitchell & Bro. v. RailtonMissouri Court of Appeals · 1891
3 more not listed; retrieve them via the Exa API.
3Cited by5 opinions
- Peoples Bank v. StewartMissouri Court of Appeals · 1911
- Pearsell Manufacturing Co. v. JeffreysSupreme Court of Missouri · 1904
- Northern National Bank v. DouglasSupreme Court of Minnesota · 1916
- Linro Medicine Co. v. MoonMissouri Court of Appeals · 1915
- McFarlane v. WadhamsU.S. Circuit Court for the District of Eastern Wisconsin · 1908