BANKRUPTCY—continued. where principal is a lessee and answerable for breaches where the official assignee of the bankrupt's estate be- where the debt is a sum of money payable by instal- ments Where he has given the principal credit for a sum be- except when he is an annuity creditor To prove in full against principal, notwithstanding 110, 111 To prove against separate estate of each partner on 111 To sign principal's certificate, when and when not Rights of creditor on bankruptcy of surety: where surety contracts to pay at all events without where surety is joint grantor with principal of where he is co-obligor with principal in a bond 102 103 ib. ib. 104 ib. 107 Rights of creditor on bankruptcy of principal and surety: 106 Where principal and surety, after separate liability, enter 107 Where subsequent arrangement is entered into between principal, surety and creditor 108 Where there are several sureties: To prove under each fiat till fully satisfied Rights of surety on bankruptcy of principal: Where entitled to a proportion of the dividends re- ceived by the creditor Where not Where entitled to have collateral securities made available in reduction of his debt 100. 122 123 ib. ib. ib. 123, 124 When the Court of Bankruptcy will direct creditor to sue out fiat against principal As to proof: When the Court of Bankruptcy will direct proof to be reinstated 124 Page BANKRUPTCY-continued. Rights of surety on bankruptcy of principal-continued. Indemnity bond forfeited before bankruptcy can- 135 not be proved if no payment made 105. 136 reserved 136 He must have paid the whole, or a part, in dis- In case of partnership, as to retiring partner who May prove for money paid and interest up to except in case of a surplus Right of surety on bankruptcy of co-surety: 138 139 137 139 139, 140 154 Right of persons claiming under surety on bankruptcy of As to restraining creditor from signing certificate Certificate in bankruptcy : Bars all debts proveable but not proved Bars all consequential damage 109 104, 105 139 Releases person of bankrupt from arrest, and his future Surety may restrain creditor from signing, when Signature of principal's certificate, does not discharge BILLS OF EXCHANGE. Who considered principals and sureties, in case of As to giving time in cases of See DISCHARGE OF SURETY. COLLATERAL PROMISE. 175 175, 176 Differs from an original promise, how Is an undertaking by one person for the debt, default or Is an indemnity and not an absolute debt till when Page COLLATERAL PROMISE-continued. Cases on the meaning of the words debt, default, or mis- 4-7 8 The party promising must be liable out of his own funds 12, 13 mise 13 As to what is a sufficient consideration, and its being in See CONSIDERATION. Where the promise is entire, if void in part, it is void alto- 63 unless the good part can be separated from the bad engages 33, 34 Construction with reference to the subject-matters of the contract 34-45 Construction with reference to the promissees: 46-48 Where the promise is made to the promissee, or" his successors," by bond Where the promise is made to a banking house a company Construction with reference to the persons promised for : Construction with reference to the duration What is a sufficient memorandum or note of the agreement The signature of the party to be charged 46, 47 50-53 74 75 ib. ib. 77 What a sufficient signature by the party or his agent 77, 78, 79 See SURETY (his rights with relation to the principal). By creditor with principal, See DISCHARGE OF SURETY. CONSIDERATION for a collateral promise. is necessary to make a binding contract an executed consideration, what must appear on the instrument Parol evidence thereof inadmissible exception Page 62 56.64-69 Creditor granting any suspension or forbearance of his Person promised for deriving advantage therefrom, suffi- 56-58 54, 55 54 62 3.73 55 ib. not necessary that any benefit accrue to person promising ib. 57 What a sufficient statement in writing of 62-69 What an insufficient statement in writing of 69-72 Where the consideration is partly sufficient and partly in- Cases illustrating the principle of Right to, may be qualified by express agreement In case of Bankruptcy, See BANKRUPTCY. In case of Insolvency, Remedies for enforcing, See LAW. EQUITY. In what case not allowed Extends to what, and what not 146, 147 148, 149 149, 150 Right to, when lost or affected: Barred by statute of limitations, when 153 By laches of plaintiff in equity between time of filing 153 Right to, when not lost: By loss of funds through laches of plaintiff in equity ib. Where surety was morally speaking the original cause ib. Where surety has paid with borrowed money 153, 154 CREDITOR. His rights with relation to the surety where he is solvent : See LAW. EQUITY. 154 CREDITOR-continued. May proceed against surety immediately after default Where there are several sureties: may proceed against any one alone after releasing or compounding with one, may pro- In case of condition precedent, it must be strictly Examples of rule Illegal contract creates no liability in surety a violation of the excise laws, held not so Page 84 85 ib. ib. 85-89 88 ib. 97 against sureties for a receiver in a case of creditor's With relation to persons claiming under surety: against devisee of surety by covenant in lease under 108 against the representatives of surety on insolvency of Is entitled to all securities given by principal to surety this right may be qualified. 109 88, 89. 98. 110 99 May proceed against sureties personally, notwithstand- In case of lost bond, See EQUITY. 89 When he may not proceed against defendant's bail In case of a ne exeat regno on principal going abroad 94, 95 except when See BANKRUPTCY. DEBT. See COLLATERAL PROMISE. DEFAULT. INSOLVENCY. See COLLATERAL PROMISE. DELAY BY CREDITOR. To sue principal, See LACHES. To give notice to surety of default by principal, DISCHARGE OF SURETY. Does not discharge the principal By payment or satisfaction of the debt And see PAYMENTS (application of). |