Cases On Guaranty And Suretyship

Cover Cases On Guaranty And Suretyship
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Y. 650), and without any reference to the doctrine of Laurence v. Fo. \% which has played some part in the discussion. The opinions of the second division on the former appeal in the case indicate that a majority of the court did not agree upon any one proposition dis- cussed. I should treat that judgment as decisive if it had decided, but the only authoritative determination was the order for a new trial. I do not deem the doctrine of Lazvrcnce v. Fox involved in this controversy. That doptrin...e applies where no express promise has been made to the party suing, but he claims the right to rest upon a promise between other parties having respect to the debt due to him and as having been made for his benefit. It struggles to obviate a lack of privity upon equitable principles, but is need- less and has no proper application where the privity exists, and a direct promise has been made upon which the action may rest. Here we have the promise, and if it is valid the wdiole problem is solved.

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