Stearns v. Bates
Supreme Court of Connecticut
Debt upon a guaranty; brought to the Superior Court in Windham County. The following facts were found by a committee: On the 3d day of October, 1874, the plaintiff loaned to Jonathan Porter the sum of $3,000, taking a note for that sum payable to the plaintiff or order, in sixty days from date, signed by Porter, and indorsed by Abram K. Gould, David G. Aldrich and David N. Porter. The maker paid the interest on the note in advance.
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Debt upon a guaranty; brought to the Superior Court in Windham County. The following facts were found by a committee: On the 3d day of October, 1874, the plaintiff loaned to Jonathan Porter the sum of $3,000, taking a note for that sum payable to the plaintiff or order, in sixty days from date, signed by Porter, and indorsed by Abram K. Gould, David G. Aldrich and David N. Porter. The maker paid the interest on the note in advance. When it fell due it was taken up by substituting for it another note _ for the same sum, payable to the order of the plaintiff, signed by Jonathan Porter, and…
1Opinion of the CourtCaepenteb, J.
By the law of Massachusetts, which gov*311erns the transactions involved in the present suit, Aldrich, by indorsing- the note payable to the plaintiff before its delivery to him, became liable as a maker thereof. As between himself and Porter he was a mere surety. As between himself and the plaintiff he was liable absolutely as maker. But conceding that the claim of the defendants is correct, that the contract in suit is a contract of indemnity, that Aldrich has paid nothing on the indorsement for which the indemnity was given, and therefore that he could not recover on this contract—it does not…
2Cases cited5 opinions
- Homer v. Savings BankSupreme Court of Connecticut · 1829
- Belcher v. Hartford BankSupreme Court of Connecticut · 1843
- Lewis v. De ForestSupreme Court of Connecticut · 1850
- Beebe v. GardnerSupreme Court of Connecticut · 1835
- Potter v. HoldenSupreme Court of Connecticut · 1863
3Cited by5 opinions
- Tidioute Savings Bank v. LibbeyWisconsin Supreme Court · 1898
- Thorpe v. StoryCalifornia Supreme Court · 1937
- Hawkins v. Fourth National Bank of New YorkIndiana Supreme Court · 1898
- North End Bank & Trust Co. v. MandellSupreme Court of Connecticut · 1931
- Pietrantonio v. ScaloSupreme Court of Connecticut · 1935