Reid v. Degener

Citations

• 82 Ill. 508

Syllabus

<p>1. Infancy—plea of by one of several defendants. When the plea of infancy is interposed and maintained by one of two defendants, it can not avail the other defendant, as to whom the contract sued on is valid and binding.</p> <p>2. Contract—to accept another as paymaster, must be supported by a consideration. An agreement by the holder of a promissory note to lake a claim which the maker holds against a third person in payment thereof, without any consideration being shown for such promise, is not binding.</p> <p>3. N ovation—parí ¿es to. Where the holder of a promissory note agrees to take a claim held by the maker against a third person, in payment of the note, it is necessary, to the validity of such agreement, that such third person should be a party to such agreement, and promise to pay what he owes the maker of the note, to the holder thereof.</p>