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1 Wright 197

Perry v. Carneal

Ohio Supreme Court

Decided April 15, 1833

Ohio Supreme Court · decided 1833-04-15

In Chancery. The ease made is this: The complainant endorsed certain notes, given to him by Dodge, to Spencer, and Spencer endorsed them over to Carneal. Dodge, the maker, failed, and Carneal afterwards agreed with Spencer, for a certain sum, which was-paid him, to release him from responsibility, and look only to Perry. Subsequent to this, Carneal and Perry settled, and Perry paid him for the whole of the notes in property and contracts, some of which are now outstanding.

Decided 1833-04-15

*LANE, J.

¶1gave the opinion of the Court. This bill must be dismissed. The holder of a note may release a junior endorser,, without affecting his claim against a prior endorser. If the amount paid by Spencer was intended as a payment of the note, the case-would be different; but that is not this case. Spencer merely-bought his peace. If he made a payment, Perry would still be liable for the whole. lie would not be exonerated from liability on the note, but would have to repay Spencer whatever sum he paid to Carnea!, and stand bound to Carneal for the residue. If there be anything wrong here, it is between Spencer and Carneal, in which the complainant has no interest.

¶2Bill dismissed.

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