Quinn v. Alexander
Quinn v. Alexander
Opinion of the Court
delivered the opinion of the court.
The appellant seeks by an original bill in equity to enjoin the sheriff of Bolivar county from selling her property under an execution on a judgment. She was granted a temporary injunction, but it was afterwards dissolved, and from the decree dissolving it an appeal was granted to this court to settle the principles of the case.
It appears from the record that in November, 1909, Alexander executed to the appellant a promissory note payable on demand, which was thereafter sold by the appellant to the First State Bank of- Shaw; she guaranteeing the payment thereof by the following memorandum written on the back of the note above her .signature:
“I guarantee payment of the within note, including interest and attorney’s fees, waiving presentment for payment and notice of protest.”
The contention of counsel for the appellant is that the action in which the judgment on which the execution was issued was rendered was on a promissory note on which the appellant was an indorser and liable only in event it cannot be collected from Alexander., from which one of two results must follow: (1) That when Tonkel paid the judgment he did only that which he had guaranteed his principal, Alexander, would do, and, consequently, in so far as the appellant is concerned the judgment has been discharged and Tonkel can look only to Alexander, the principal in the bond on which he was surety, for payment; or (2) that under section 4015, Code of 1906, Hemingway’s Code, section 2577, the clerk of the court below should have noted on the execution that Alexander was the maker and
First. That Tonkel was a surety on Alexander’s, and not on the appellant’s appeal bond, is of no importance here, for section 3735, Code of 1906, Hemingway’s Code, section 2911, does not provide that a surety paying a judgment rendered against his principal “shall have all the liens and equities” which the creditor in the judgment has against the surety’s principal but that he “shall have all the liens and equities” which the creditor has in the judgment.
Second. Placing on one side the fact that the judgment on which the execution was issued does not designate the character of the parties defendant therein, and that the clerk issuing the execution did not note the character in which they were sued on .the execution, and leaving out of view the questions argued in connection therewith, section 4015, Code of 1906, Hemingway’s Code, section 2577, can have no application here, for in so far as Hardee, the receiver for the First State Bank of Shaw, to whose rights Tonkel has been subrogated, the appellant’s liability, because of the guarantee executed by her to the bank, became fixed by the failure, of Alexander to pay the note, and in so far as the rights of the judgment creditor are concerned, her liability is that of a principal debtor. Tatum v. Bonner, 27 Miss. 765; Baker v. Kelly, 41 Miss. 696, 93 Am. Dec. 274.
Affirmed and remanded. (
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- 1. Subrogation. A surety paying1 a judgment has all the equities of the judgment creditor. A surety paying a judgment against himself, his principal, and another, has, under section 3735. Code of 1906, Hemingway’3 Code, section 2911, all of the liens and equities therein that the judgment creditor had both against the surety’s principal and the other person against whom the judgment was rendered. 2. Bnxs and notes. Indorser’s name need not be noted as indorser on execution of judgment on note against maker and indorser who has also guaranteed payment. Where a judgment is rendered on a promissory note against the maker and an indorser who has also guaranteed the payment of the note, the indorser is not within the requirement of section 4015, Code of 1906, Hemingway’s Code, section 2577, that “The clerk or justice of the peace shall indorse on all executions issued on judgments rendered in suits on promissory notes and bills of exchange the names of the makers, drawers, acceptors, and indorsers, so as to designate the order in which they are liable,” etc.