Prime v. Koehler

Citations

• 7 Daly 345

Syllabus

<p>Where the owner of laud subject to an over due mortgage made by a former owner ■ made an oral agreement with the holder of the bond and mortgage to the effect that if he would extend the time of payment, and forbear to foreclose, he would pay him the amount of certain interest on the bond, partly then due, and partly to become due within the extended time,—Held, that the agreement was not void under the Statute of Frauds, as a promise not in writing to answer for the debt or default of another, but was an original and valid agreement on a new and sufficient consideration.</p>