Bank of Missouri v. Matson
Supreme Court of Missouri
•Appeal from, Livingston Circuit Court. I. The facts set up in the appellant’s answer were well pleaded, and if true formed a good defence to the plaintiff’s action.
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•Appeal from, Livingston Circuit Court. I. The facts set up in the appellant’s answer were well pleaded, and if true formed a good defence to the plaintiff’s action. No principle is better settled than that alter a creditor has by agreement with the debtor, or by any legal process, got possession or control of sufficient property or means to satisfy his debt, and chooses not to retain them, but suffers them to pass into the hands of the principal debtor, the security is thereby released and can never be afterwards called on. (Ferguson v. ■Turner, 7 Mo. 498 ; Rice v. Morton, 19 Mo. 263.) I.…
1Opinion of the CourtRyland, Judge
The Bank of the State of Missouri at Lexington commenced suit in the Livingston Circuit Court, at the November term, *3351856, against tbe defendant, upon a negotiable note endorsed to tbe Bank. Tbe appellant appeared and filed to said action tbe following answer : “ Tbe defendant, for bis amended answer to tbe plaintiff’s petition in this cause, admits that be and one William Lennox executed tbe note sued on in manner and form as charged in tbe petition, but avers that be executed tbe same as security of the said Lennox, and that at tbe time said note was endorsed and received by tbe…
2Cases cited1 opinion
- Rice v. MortonSupreme Court of Missouri · 1854
3Cited by7 opinions
- City of Maquoketa v. WilleySupreme Court of Iowa · 1872
- Bell v. HowertonSupreme Court of North Carolina · 1892
- Dodd v. WinnSupreme Court of Missouri · 1858
- Read v. American Surety Co.Supreme Court of Iowa · 1902
- Mitchell v. CurranMissouri Court of Appeals · 1876
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