Speiglemyer v. Crawford

Citations

• 6 Paige Ch. 254
• 1837 N.Y. LEXIS 247
• 1837 N.Y. Misc. LEXIS 31

Syllabus

<p>A creditor by decree in chancery is entitled to the same relief upon a credit- or’s bill as a creditor by judgment at law. And he may file his bill to reach the equitable assets of the party who is decreed to be personally liable to pay the debt, upon the return of án execution against such party unsatisfied, although he has not exhausted his remedy against the surety of such party.</p> <p>A surety who is entitled to be subrogated to the rights and remedies of the „ creditor as against the principal debtor may, if he does not actually pay or discharge the debt, make a valid agreement with the creditor that the latter shall proceed by a creditor’s bill against the principal debtor to collect the debt from him, and thereby to relieve him as surety; although the arrangement between the creditor and surety is such that the suit upon the creditor’s bill is substantially for the benefit of the surety, and for his indemnity.</p> <p>A false assertion by the vendor as to the mere value of the property he is about to sell, without any misrepresentation or deception as to any other-matter of fact, is not a sufficient ground for relief to' the purchaser, either . at law or in equity. The law presumes that each party to a contract of sale relies upon his own judgment as to the Value of the property sold, where the facts on which the value of such property depends are equally known to both.</p>