Hooker v. Gooding

Citations

• 86 Ill. 60

Syllabus

<p>1. G-ttaraiítor—mere delay in collecting does not release. An absolute guarantor of the payment of money due on a certificate of deposit, where the credit is indefinite, is not released by the mere delay of the creditor in enforcing payment from the principal debtor.</p> <p>2. Same —holder not bound to demand payment and give notice. The creditor in a certificate of deposit, when the credit is indefinite, is under no obligations to a guarantor to make prompt demand of payment and give notice to him of non-payment.</p>