Bunker v. Ireland
Bunker v. Ireland
Opinion of the Court
This is assumpsit on an instrument of the following tenor:
April 18, 1877.
For a valuable consideration to me paid by S. Bunker and for value received 1 promise to pay S. Bunker the within note, it being for goods furnished my family.
His
Fieield X Ireland.
Mark.
Witness, J. P. Spooner.
This instrument is written on the back of the following promissory note.
$105. December 26, 1874.
After date I promise to pay to the order of S. Bunker one hundred and five dollars and interest in ten equal monthly payments from date; value received.
Ardele M. Ireland.
The defendant relies on the statute of limitations, and the only question in contention is, whether the instrument declared on is a promissory note, signed in the presence of an attesting witness, or a guaranty, — a collateral undertaking to pay the debt of another.
We think it cannot be held to be a promissory note but must be held to be a guaranty. It is agreed, that the only consideration for it, was temporary forbearance on the part of the plaintiff to enforce payment of the note on which it is written. It goes with that note and has no validity independent of it. It is a “promise to pay S. Bunker, (the payee) the within note.” If the note had ceased to have legal, validity by payment or any other means, it would be a good defense to the defendant. If Ardell M. Ireland had paid the note after the defendant’s promise was written upon it, it would be a good defense to the defendant. Comm. Ins. Co. v. Whitney, 1 Met. 21.
It is an agreement to pay the debt of another and must be in writing and for a good consideration, to be binding. Comm. Ins. Co. v. Whitney, supra, is relied on by the plaintiff as decisive of
Exceptions sustained.
Reference
- Full Case Name
- Samuel Bunker v. Fifield Ireland
- Cited By
- 3 cases
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- Published