Chapman v. Clough
Supreme Court of Vermont
This was an action upon a promissory note. Plea, general issue, and notice. On this issue and notice, the defendant offered evidence to show, that after he executed the note in question, which was payable on demand, he had a note in his own name against one Jonathan and Amos Rollins, for about one hundred and fifty dollars, which he turned out to the plaintiffs, at their request, as a pledge or collateral security for the note in question. — That the signers of the one…
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This was an action upon a promissory note. Plea, general issue, and notice. On this issue and notice, the defendant offered evidence to show, that after he executed the note in question, which was payable on demand, he had a note in his own name against one Jonathan and Amos Rollins, for about one hundred and fifty dollars, which he turned out to the plaintiffs, at their request, as a pledge or collateral security for the note in question. — That the signers of the one hundred and fifty dollar note were abundantly responsible for its payment, and that the plaintiffs commenced this action upon…
1Opinion of the Court
The opinion of the court was pronounced by
Mattocks, J.
— In this case, the only question is, whether the plaintiffs, who had received a good note as a pledge of their debtor, against a third person, of a greater amount than their debt, and sued the same, and attached personal property, have a right, pending such suit, to maintain a suit against their original debtor, or whether such pledge operates as a suspension of the right of action until the pledge is returned.
It is admitted by the counsel for the defendant, that at common law, the right of action would not be suspended. But they say the…
2Cited by5 opinions
- Thurber v. JewettMichigan Supreme Court · 1854
- William Deering & Co. v. WarrenSouth Dakota Supreme Court · 1890
- Wright v. GuilmetteSupreme Court of Vermont · 1920
- Buck v. IngersollMassachusetts Supreme Judicial Court · 1846
- Taylor v. CheeverMassachusetts Supreme Judicial Court · 1856