Uniontown Bank v. MacKey
Supreme Court of the United States
ERROR TO THE CIRCUIT COURT OE THE UNITED STATES EOR THE DISTRICT OE INDIANA. This was an action brought September 14, 1886, by the Bank of Uniontown, a corporation of Kentucky, against David J. Mackey, a citizen of Indiana, as endorser of two promissory notes for $6000 each, one dated July 20, and the other July 29, 1886, signed by the Mount Yernon Mill and Elevator Company and by George Naas, and payable to the defendant’s order at the plaintiff’s bank in four months after…
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ERROR TO THE CIRCUIT COURT OE THE UNITED STATES EOR THE DISTRICT OE INDIANA. This was an action brought September 14, 1886, by the Bank of Uniontown, a corporation of Kentucky, against David J. Mackey, a citizen of Indiana, as endorser of two promissory notes for $6000 each, one dated July 20, and the other July 29, 1886, signed by the Mount Yernon Mill and Elevator Company and by George Naas, and payable to the defendant’s order at the plaintiff’s bank in four months after date, with interest at the rate of eight per cent yearly after maturity until paid. The complaint contained four counts,…
1Opinion of the CourtJustice Gray
It.being alleged by the plaintiff, and,admitted by the defendant, that Naas, one of the makers of the notes in suit, signed them as surety for the Mount Yernon Mill and Elevator Company, the other maker, and that the defendant, Mackey, endorsed the notes for the accommodation of that company, there can be no doubt that an agreement between the holder of the notes and the principal maker to extend the time of payment for a definite time, without the consent of the surety, would discharge him, and that such discharge of the surety, without the consent of the endorser, would discharge the…
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