Reports of Cases Decided in the Court of Appeals of the State of New York (Volume 204) (Paperback)


This historic book may have numerous typos, missing text, images, or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1912. Not illustrated. Excerpt: ... BILLS, NOTES AND CHECKS. 1. Liability of indorser-- Extension of time of payment by aci-epfainre of other notes with the first note as collateral. An accommodation iiulorser, or surety, is entitled to have the engage- ment of the principal debtor preserved, without variation in its terms, and his assent to any change therein is essential to the continuance of his obligation. Any agreement of the creditor which operates to extend the time of payment of the original debt and suspends the right to immediate action is held to discharge the non-assenting indorser or surety, as the law will presume injury to him thereby. The creditor may arrange with his debtor in any way which does not effect either of these results, but to prevent a discharge of the indorser or surety the agreement must expressly reserve all the remedies of the creditor against him; in which case the latter will be in a posit ion, to pay immediately and then to proceed against the principal debtor. National Park Bank v. Koehler. 174 2. When indorser released. The maker of a note indorsed bv defendant requested from the holder an extension of the time of payment and its acceptance of new notes payable in install- ments. The plaintiff agreed to extend the time of payment and to accept the new notes, provided the same should be indorsed by the defendant. The maker was unable at the time to procure the indorsement of the defendant upon the new notes, and in lieu thereof agreed with the plaintiff that the plaintiff should hold the old note as collateral until the new notes each should be paid; and plaintiff, in pursuance of such agreement, received the new notes and continued to hold the note indorsed by the defendant. Held, that since the obligation of an indorser as a surety is strit-tixsimt ...

R792

Or split into 4x interest-free payments of 25% on orders over R50
Learn more

Discovery Miles7920
Mobicred@R74pm x 12* Mobicred Info
Free Delivery
Delivery AdviceOut of stock

Toggle WishListAdd to wish list
Review this Item

Product Description

This historic book may have numerous typos, missing text, images, or index. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. 1912. Not illustrated. Excerpt: ... BILLS, NOTES AND CHECKS. 1. Liability of indorser-- Extension of time of payment by aci-epfainre of other notes with the first note as collateral. An accommodation iiulorser, or surety, is entitled to have the engage- ment of the principal debtor preserved, without variation in its terms, and his assent to any change therein is essential to the continuance of his obligation. Any agreement of the creditor which operates to extend the time of payment of the original debt and suspends the right to immediate action is held to discharge the non-assenting indorser or surety, as the law will presume injury to him thereby. The creditor may arrange with his debtor in any way which does not effect either of these results, but to prevent a discharge of the indorser or surety the agreement must expressly reserve all the remedies of the creditor against him; in which case the latter will be in a posit ion, to pay immediately and then to proceed against the principal debtor. National Park Bank v. Koehler. 174 2. When indorser released. The maker of a note indorsed bv defendant requested from the holder an extension of the time of payment and its acceptance of new notes payable in install- ments. The plaintiff agreed to extend the time of payment and to accept the new notes, provided the same should be indorsed by the defendant. The maker was unable at the time to procure the indorsement of the defendant upon the new notes, and in lieu thereof agreed with the plaintiff that the plaintiff should hold the old note as collateral until the new notes each should be paid; and plaintiff, in pursuance of such agreement, received the new notes and continued to hold the note indorsed by the defendant. Held, that since the obligation of an indorser as a surety is strit-tixsimt ...

Customer Reviews

No reviews or ratings yet - be the first to create one!

Product Details

General

Imprint

General Books LLC

Country of origin

United States

Release date

2012

Availability

Supplier out of stock. If you add this item to your wish list we will let you know when it becomes available.

First published

2012

Authors

Dimensions

246 x 189 x 14mm (L x W x T)

Format

Paperback - Trade

Pages

258

ISBN-13

978-1-154-20384-4

Barcode

9781154203844

Categories

LSN

1-154-20384-0



Trending On Loot