Burnheimer Bros. v. Hart
Supreme Court of Iowa
Appeal from Davis District Court. . Plaintiffs declare upon two notes made by defendant in 1860. There was testimony tending to show, that, at the time of making the notes, defendant transferred to plaintiffs as collateral security, a note upon other parties 'in his favor; that plaintiffs had sued the makers of this collateral note, joining therein the defendant as indorser, and had obtained judgment against all the parties; that plaintiffs and defendant compromised that…
Read the full summary
Appeal from Davis District Court. . Plaintiffs declare upon two notes made by defendant in 1860. There was testimony tending to show, that, at the time of making the notes, defendant transferred to plaintiffs as collateral security, a note upon other parties 'in his favor; that plaintiffs had sued the makers of this collateral note, joining therein the defendant as indorser, and had obtained judgment against all the parties; that plaintiffs and defendant compromised that judgment, the said defendant paying twenty-five per cent of the amount due thereon, and certain attorneys’ fees of…
1Opinion of the CourtWright, J.
l. peohissoet note: co Haterais; payment, The court instructed the jury that the judgment against the defendant as indorser of the collateral note was a bar to a suit on the notes .. _ thus secured to the, extent of such collateral, and that if, therefore, the judgment on such collateral was equal to or exceeded the amount of the notes now in suit, such collateral judgment would be a complete bar to the action.
This could hardly be the law under any state of facts, and is certainly not, under the circumstances disclosed in this record. It in effect makes the collateral contract (or the…
2Cited by3 opinions
- Lynch v. BurtCourt of Appeals for the Eighth Circuit · 1904
- Vanuxem v. BurrMassachusetts Supreme Judicial Court · 1890
- Buter v. SlatterySupreme Court of Iowa · 1931