Farmers & Mechanics Bank v. Kercheval
Michigan Supreme Court
Case reserved from Wayne Circuit. This was an action of debt brought on the following bond : "Know all men by these presents, that I, Benjamin B. KercbevaJ, of the town of Detroit, in the County of Wayne, and State of Michigan, am held and firmly hound unto the President, Directors, and Company of the Farmers and Mechanics Bank of Michigan, in the penal sum of' six thousand dollars, to he paid to the said President, Directors, and Company of said Bank, or to their assigns or…
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Case reserved from Wayne Circuit. This was an action of debt brought on the following bond : "Know all men by these presents, that I, Benjamin B. KercbevaJ, of the town of Detroit, in the County of Wayne, and State of Michigan, am held and firmly hound unto the President, Directors, and Company of the Farmers and Mechanics Bank of Michigan, in the penal sum of' six thousand dollars, to he paid to the said President, Directors, and Company of said Bank, or to their assigns or legal successors in office, to the which payment well and truly to be made, I hind myself, my heirs, executors, and…
1Opinion of the Court
By the Court, Whipple, J.
The first question presented for our consideration, is, whether the bond was intended as a continuing guaranty to the amount of $3000 for the period of three years, commencing on the 1st of January 1837, and ending on the 1st of January, 1840. The plaintiffs insist that this is the only reasonable construction to be given to the bond; on the other hand, while it is admitted by the defendant, that successive advances, to the amount of $3000 might be made during the period covered by the guaranty, yet it is contended that when advances- to that amount are actually made,…
2Cases cited7 opinions
- Douglass v. HowlandNew York Supreme Court · 1840
- Douglass and Others v. Reynolds and OthersSupreme Court of the United States · 1833
- Cremer v. HigginsonU.S. Circuit Court for the District of Massachusetts · 1817
- Reynolds v. DouglassSupreme Court of the United States · 1838
- Louisville Manufacturing Co. v. WelchSupreme Court of the United States · 1851
2 more not listed; retrieve them via the Exa API.
3Cited by15 opinions
- Burrow v. ZappTexas Supreme Court · 1888
- Wilcox v. DraperNebraska Supreme Court · 1881
- Wilcke v. DurossMichigan Supreme Court · 1906
- De Cremer v. AndersonMichigan Supreme Court · 1897
- Second National Bank v. GaylordSupreme Court of Iowa · 1872
10 more not listed; retrieve them via the Exa API.