McConnon & Co. v. Prine

Citations

• 128 Miss. 192
• 90 So. 730

Syllabus

<p>1. Guaranty. Goods being furnished in reliance on guaranty, immaterial that recited consideration of one dollar was not paid.</p> <p>In a suit against guarantors under a contract of guaranty reciting a consideration of one dollar paid by the guarantee to the guarantors, said contract guaranteeing payment for the furnishing of goods, etc., to a named person in which the guarantors became bound, absolutely and unconditionally,' to pay the guarantee the full amount of such purchases, a plea averring that the recited consideration was not paid to them by the guarantee presents no defense, as the furnishing of such goods, etc., to the named person constitutes a consideration, and the recited consideration may be shown by proof not to be the real consideration and a demurrer to such plea should be sustained.</p> <p>2. Guaranty. Where contract made no provision for notice to guarantors, plea averring no notice is demurrable.</p> <p>Where a contract of guaranty is absolute, unconditional, and continuing, and provides for payment of the guaranteed debt for goods furnished a third person, and contains a clause, “it is understood that there are no conditions or limitations to this undertaking, except those written or printed herein,’’ and where there is no condition or provision for notice of acceptance written or printed in the contract, none is necessary, and a demurrer to a plea averring that no notice of acceptance was given, the guarantors should be sus > tained.</p> <p>3. Guaranty. Contract may be essential ground of credit and a part of the principal contract, so that creditor may join principal debtor and guarantor.</p> <p>While ordinarily a contract of guaranty.is separable from the debt of the person whose debt is guaranteed, yet “where the guaranty or promise is made at the same time with the principal contract, and becomes an essential ground of the credit given to the principal debtor, the whole is one original and entire transaction, and the consideration exte