The Law of Principal and Surety

Overview

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1899 Excerpt: ...by their so doing (c). So if a surety (v) 2 Cox 86. Discussed in Duncan, Fox it Co. v. North and South Wales Bank, L. R. 6 A. C. at p. 15. (z) L. R. 13 Ef. 158. The head-note does not sufficiently state the point raised bv the facts. (a) Cp. Tilhy v. Xkivics, 2 Y. & C. Eq. 399. Bugden v. BignoUl, ibid. ...
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More About This Book

Overview

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1899 Excerpt: ...by their so doing (c). So if a surety (v) 2 Cox 86. Discussed in Duncan, Fox it Co. v. North and South Wales Bank, L. R. 6 A. C. at p. 15. (z) L. R. 13 Ef. 158. The head-note does not sufficiently state the point raised bv the facts. (a) Cp. Tilhy v. Xkivics, 2 Y. & C. Eq. 399. Bugden v. BignoUl, ibid. 377. (b) Wade v. Cnope, 2 Sim. 155. Wilkinson v. London and County Banking Co., 1 Times L. R. 63. (c) Wilkinson v. London and County Banking Co., 1 Times L. R. 63. is bound for part of a debt, and a mortgage is given for another part, the surety, after paying the sum for which he is liable, cannot also pay to the creditor what remains due upon the mortgage and hold the property to recoup himself both sums, even to the extent of the principal and interest originally charged upon it; but a subsequent incumbrancer will be entitled to redeem upon payment only of the amount still due upon the mortgage (d). But if the creditor, being owed two debts, one guaranteed and the other not, takes a security for the two debts, the surety is entitled as against the creditor to the benefit of a proportion of the security (e). So a surety for the floating balance upon a running account, limited to a fixed sum, has been held entitled to a proportion of the value of shares of the principal in the banking company to whom the guarantee was given, upon which the company had by its constitution a lien for the whole indebtedness (/), the security being applied rateably in the same manner as dividends in bankruptcy would be in a similar case (g). Priority as The right of the surety to the securities of the regards later creditor is prior to that of later incumbrancers (h), who incumbrances. r " are subject to the creditor's mortgages; and it does not seem material whether the...
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Product Details

  • ISBN-13: 9781150233395
  • Publisher: General Books LLC
  • Publication date: 5/28/2012
  • Pages: 128
  • Product dimensions: 7.44 (w) x 9.69 (h) x 0.27 (d)

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