Villars v. Palmer

Citations

• 67 Ill. 204

Syllabus

<p>1. Surety—what will discharge. It is a well settled principle that mere delay on the part of the creditor to proceed against the principal, does not discharge the liability of the surety. All that the surety has the right to require of the creditor, in the absence of any statute provision, is that no affirmative act shall he done that will operate to his prejudice.</p> <p>2. Where the principal debtor in a promissory note dies, the neglect of the holder to present the same against his estate until all remedy against the estate is lost, will not discharge the surely from its payment, where the same was given prior to the act of March 4,1869. That statute providing a different rule, applies only to cases arising after its passage.</p> <p>3. Same—sureties' remedies in such a case. In such a case the surety may pay the debt, and sue the principal himself, or he may go into a court of equity after the debt becomes due, and obtain a decree that the principal pay it, or he may, under the statute, give the creditor written notice to bring suit, and thus compel him to sue the principal.</p>