The covenant by the intestate with one of the defendants, to procure and cancel the notes given by both the defendants, was a covenant enuring to the benefit of both; and though Otis Johnson could not maintain a suit upon it in his own name, seeing it was not a parol promise, but by specialty, yet he had undoubtedly an equitable interest in it, and would be entitled to use the name of Isaac Johnson, as a trustee for his interest in the covenant. The validity of such an equitable interest was recognised so long ago as the case of Offly v. Warde ; (1 Lev. 235.) and since that time, the courts of law have regarded, and will now give effect to the interest of a cestuy que trust, in a covenant or other specialty. Taking the bond and mortgage of Isaac Johnson was not an extinguishment of the sealed notes; (l Anst. 111.) but the covenant made with Isaac Johnson for the benefit of him and Otis Johnson, that the intestate would “ procure .and cancel the notes,” amounted to a release.
The defendants are, therefore, entitled to judgment.
Judgment for the defendants.