Jefferson v. Tunnell

Citations

• 2 Del. Ch. 135

Syllabus

<p>Sureties, not having paid the debt for which they are bound, are not creditors of their principal.</p> <p>The surety’s liability for his principal is not a valuable consideration, as against creditors of the principal, for a bond conditioned for the pay- ■ ment of a sum of money as a debt.</p> <p>Gr. T., a guardian, being indebted to his ward, at the solicitation of his sureties, gave his judgment bond to three of them to indemnify them and their co-sureties; and, for the same purpose, assigned to them certain debts, which debts the sureties collected and held for indemnity. Held, that the transaction was fraudulent and void, as against creditors of Gf. T. afterward recovering judgment.</p> <p>It seems, that sureties in administration, testamentary and guardian bonds, having a statutory remedy in the Orphans Court for counter security, cannot seek indemnity in a court of equity.</p>