Stovall v. Border Grange Bank

Citations

• 78 Va. 188
• 1883 Va. LEXIS 27

Syllabus

<p>1. Practice in Chancery—Parties—All interested in relief sought by bill should be made parties—either plaintiffs or defendants.</p> <p>2. Idem—Enforcing judgment lien.—-Judgment creditor need not exhaust his remedies at law, before going into chancery, to subject his debtor’s land. Code 1873, ch. 182, § 9 ; Price v. Thrash, 30 Gratt. 515.</p> <p>3. Idem—Principal and surety.—In suit to enforce judgment lien on lands , of principal debtor and his sureties, principal’s lands should be exhausted before subjecting that of sureties. Horton v. Bond, 28 Gratt. 815.</p> <p>4. Idem—Idem—Idem—Receiver.—-In such suit a receiver should not be appointed of the lands of one surety before subjecting the lands of principal and before taking any steps against the lands of the co-surety.</p> <p>5. Principal and Surety—Co-sureties—Contribution.—Negotiable note ran thus : “Sixty days after date, we, W & Co., principal, and S & L, securities, promise to pay,” &c.; the note was signed by L after the other parties had signed it, without the knowledge of S, and W & Co. agreed with L, also without the knowledge of S, '“that there should be no trouble about the note, that W & Co. and S would take care of it,”</p> <p>Held :</p> <p>1. This is a joint promise. L is bound as co-surety with S, and bound to contribute.</p> <p>2. When successive endorsers all endorse for accommodation of maker, though at different times and without mutual agreement, they are co-sureties and in equity liable to contribution. Hence S’s ignorance that L signed the note did not affect their relation as co-sureties.</p>