Koenigsberg v. Lennig

Citations

• 161 Pa. 171
• 28 A. 1016
• 1894 Pa. LEXIS 658

Syllabus

<p>Guaranty — Consideration—Release of Ken.</p> <p>Where the consideration for a contract of guaranty was the release of a right to lien a building, it is immaterial that, at the time the contract was signed, a release of liens had already been executed. In such a case the guarantor received the consideration for which he gave the guaranty at the very moment he signed the contract.</p> <p>Guaranty — Promissory note — Extension of time.</p> <p>Where a contract of guaranty for the payment of promissory notes provides that no extension of the notes should in any way affect or release the liability of the guarantor, the fact that one note for thirty-two hundred dollars at two months was given in place of two notes for sixteen hundred dollars each, one at one month and the other at two months, as originally contemplated, will not release the guarantor. In such a case the enlargement of the time of payment of one of the sixteen hundred dollar notes for one month was nothing more than an extension of that note.</p>