Can a bank's action in agreeing not to rank might discharge the sureties?
Ontario, Canada
The following excerpt is from Stratford Fuel Ice (Re), 1913 CanLII 18 (ON CA):
It was argued that the bank’s action in agreeing not to rank might discharge the sureties, and that payment by them was voluntary. But this contention was not regarded with favour by Stirling, J., in Badeley v. Consolidation Bank, 34 Ch. D. 536, at p. 557; where it was urged that the payment by the surety was, under the circumstances of that case, likewise a voluntary one.
"The most advanced legal research software ever built."
The above passage should not be considered legal advice. Reliable answers to complex legal questions require comprehensive research memos. To learn more visit www.alexi.com.
Other Questions
In what circumstances will a surety be held liable for money received by a bank clerk eleven miles away from the bank? (Ontario, Canada)
If the parties cannot agree on costs, can they agree to pay the costs of a claim against Jevco Insurance Company? (Ontario, Canada)
Is the certification stage of a class action a test of the merits of the action? (Ontario, Canada)
What are the implications of a motion judge's decisions regarding the restoration of an action to the trial list under r.48.11 and the dismissal of an Action for Delay pursuant to r.24.01? (Ontario, Canada)
If the parties cannot agree on costs in a personal injury action, what are the deadlines for responding to the claim? (Ontario, Canada)
What is the test for agreeing on the issue of costs in a personal injury action? (Ontario, Canada)
Is a bank's withdrawal of a surety made against it prejudiced or prejudiced? (Ontario, Canada)
What is the test for dismissing an action as prescribed on the basis that the cause of action had accrued more than 6 years before the Statement of Claim was issued? (Ontario, Canada)
What are some cases where a conditional discharge or absolute discharge has been given in the domestic sphere? (Ontario, Canada)
What is the test for laches in an action brought by a party who has been a party to an action for over a year? (Ontario, Canada)
