Mordecai v. Gadsden

Citations

• 29 S.C.L. 566

Syllabus

<p>1. Action on a written instrument as follows:</p> <p>“Sixty days after date, I guaranty the payment of three hundred and fifty six dollars, sixty cents, due by J. M. Verdier, of Beaufort, to Benjamin Mordecai.</p> <p>[Signed] JOHN M. VERDIER.</p> <p>[Endorsed] BENJAMIN MORDECAI.</p> <p>[Accepted] THOMAS N. GADSDEN.”</p> <p>4th February, 1842.</p> <p>$356 60.</p> <p>Defendant, himself, drew up the paper after agreeing to become responsible for the debt to plaintiff, and adopted this form after refusing to sign a paper that would pass through the bank. Held, that in order to give the words, “I guaranty,” any rational application, defendant’s signature, under the word “accepted,” written upon the face of the papor, constituted his subscribing, as that of the maker of the instrument, which would make it a note of hand at sixty days, given by defendant to plaintiff.</p> <p>2. But for the fulfilment of the intended contract, the instrument might be as well considered as an order or request drawn by the debtor, to guarantee his debt to the plaintiff, which being accepted, in writing, by defendant, would render him the guarantor, under the Statute of frauds.</p> <p>3. A guaranteed, in writing, the debt of B, for which B was arrested under a bail writ, in consideration of B’s. release; the original debtor not being discharged. The guarantor had, at the time, three negroes of the debtor placed in his hands to be sold, and had made an advance on them of three or four hundred dollars. Two of the negroes were afterwards taken from the guarantor, by legal process.</p> <p>4. It is enough if there be a consideration for the guaranty at the time it was made, and the party guaranteed is not answerable for its continuance. The undertaking of the guarantor being under the Statute of Frauds did not require a consideration to the extent of the sum guaranteed.</p> <p>5. An objection on the part of the guarantor to the regularity of the bail writ, held not valid, as the defendant to tha