People's Bank v. Pearsons
Supreme Court of Vermont
Assumpsit upon a promissory note, dated February 28, 1853, for three hundred dollars, payable in ninety days from date, and signed by the defendants and one Little, who died previous to the commencement of this action. The defendants Pearsons & Burnabee, made no defence. Prentiss plead the general issue, and the case was tried by jury at the June Term, 1857, — Poland, J., presiding.
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Assumpsit upon a promissory note, dated February 28, 1853, for three hundred dollars, payable in ninety days from date, and signed by the defendants and one Little, who died previous to the commencement of this action. The defendants Pearsons & Burnabee, made no defence. Prentiss plead the general issue, and the case was tried by jury at the June Term, 1857, — Poland, J., presiding. The plaintiffs read in evidence, the note declared on, the due execution of which was admitted. The note was as follows : The defendant, Prentiss, then introduced evidence tending to prove that he signed this note…
1Opinion of the Court
The opinion of the court was delivered by
Bennett, J.
We think upon this bill of exceptions the county court erred in directing a verdict for the plaintiffs.
It is too well settled to need authority, that if the creditor extends the time of payment by an agreement with the principal, without the assent of the surety, made upon a good and valid consideration, the surety is thereby discharged, both in a court of equity, and a court of law. We think the payment of interest in advance is a valid consideration to support a promise to give time. This has been fully settled by the courts of New…
2Cases cited2 opinions
- President, Directors & Co. of Claremont Bank v. WoodSupreme Court of Vermont · 1838
- Austin v. DorwinSupreme Court of Vermont · 1848
3Cited by13 opinions
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- Hubbard v. OgdenSupreme Court of Kansas · 1879
- Arbuckle v. TempletonSupreme Court of Vermont · 1892
- Davis v. GrahamSupreme Court of Iowa · 1870
- Foster v. FurlongNorth Dakota Supreme Court · 1899
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