Stuart v. Lancaster

Citations

• 84 Va. 772
• 6 S.E. 139
• 1888 Va. LEXIS 140

Syllabus

<p>1. Principal and surety—Discharge of surety— It is well settled that an agreement between creditor and principal debtor to extend time of payment for a definite period discharges the surety if made without his consent, even though the change be for his benefit. Dey v. Martin, 78 Va., 1.</p> <p>2. Idem—New note—Burden of proof.—It is also well settled that if holder of promissory note take a new note of principal debtor without surety’s consent, the latter is discharged, unless the evidence clearly shows that the parties otherwise intended, and the burden of showing such intention rests on creditor. Calloway’s Ex’or v. Price’s Adm’r, 33 Gratt., 1.</p> <p>3. Idem—Case at bar.—The case here comes within the foregoing rules, and the surety was held to have been discharged.</p>