Ekre v. Cain

Citations

• 66 Wash. 659
• 120 P. 523
• 1912 Wash. LEXIS 827

Syllabus

<p>Limitation of Actions — Contracts—Guaranty. Where a debtor turned over a note in payment of his own debt, at the same time guaranteeing the note, the guaranty is not a promise to pay the debt of another which would be barred when the statute of limitations had run against the note; but it is a promise to pay his own debt, creating a liability during the period of limitations following its written acknowledgment.</p> <p>Guaranty — Promise to Pay Debt of Another — Consideration. An oral guaranty of a note turned over in payment of the guarantor’s indebtedness is a sufficient consideration for a subsequent written guaranty of its payment, as it is but an agreement to pay his own debt.</p> <p>Compromise and Settlement — Effect. Where defendant was bound to pay $7,250 for plaintiff’s interest in certain lots, a second contract whereby plaintiff agreed to sell defendant a part, if not all, of the property, for the sum of §4,500, was intended to discharge the first contract, and is in the nature of a compromise and settlement.</p>