Wright v. Watt

Citations

• 52 Miss. 634

Syllabus

<p>1. Execution: Levy on personalproperty. Prima facie evidence of sailsfactionl</p> <p>When an execution is levied on a sufficient amount of personal property it is-prima facie evidence of satisfaction, hut the presumption of satisfaction thus-raised may be rebutted by showing that the property was not legally disposed, of, or that the defendant has not been deprived of the property by the levy.. It is payment if the sheriff wastes the goods, after seizure, of sufficient value-to pay the debt.</p> <p>2. Principal and Surety: Release of surety.</p> <p>Indulgence or non-action, though in the meantime the principal should become-insolvent, unaccompanied by any act of the creditor whereby the hazard is-increased, will not discharge the surety; nor the failure to issue execution, or-to point out property, or, if the execution be levied on the principal’sproperty, the failure to make up an issue with a claimant who has replevied; nor the-failure to enroll a judgment on a forfeited forthcoming bond, whereby a junior-judgment obtained priority. But if indulgence is granted for a definite time,, pursuant to an agreement supported by a valuable consideration, so as to tie-up the hands of the creditor, and the surety does not consent to such am agreement, he will be exonerated from liability. •</p>