28 Nev. 94 | Nev. | 1904
By the Court,
In part it is alleged in the complaint " that in order, among other 'things, to secure the credit of the defendant Fowler, and to enable said Fowler to purchase sewing machines from plaintiff upon credit, the defendants A. J. Clark, C. E. Clough, and John Sunderland, and each and every of them, together with the defendant Edwin Fowler, did make, execute, and deliver to plaintiff a bond bearing date the 18th day of June, 1902, in the sum of $2,000, undertaking, among other things, that the defendant Edwin Fowler should well and truly pay any and every indebtedness or liability which might in any manner exist or be incurred on the part of said Edwin Fowler to plaintiff; that immediately upon the delivery to plaintiff of the hereinbefore described bond, and relying
A copy of the bond is made a part of the complaint, and it is therein recited "that Edwin Fowler and other-signers [they being the other defendants] are hereby held and firmly bound, severally and individually unto the White Sewing Machine Company in the sum of $2,000 for value received, to be paid the White Sewing Machine Company. *. * * The condition of the above obligation is such, that if the above bounden Edwin Fowler, heirs, executors or administrators, shall well and truly pay, or cause to be paid, any and every indebtedness or liability now existing, or which may hereafter in any manner exist, or be incurred on the part of said Edwin Fowler to the White Sewing Machine Company, or its assigns, whether, such indebtedness or liability shall exist in the shape of Book Accounts, Notes or Leases, Renewals or Extension of Notes, Accounts or Leases, Acceptances, Indorsements, Consignments of Property or Merchandise, failure to deliver or account for the same, or any part thereof, or otherwise, and whether such indebtedness shall be incurred under any contract between said White Sewing Machine Company and said Edwin Fowler or otherwise; and whether the same shall arise out of the purchase and sale of Sewing Machines, or otherwise, hereby waiving' presentment for payment, protest and notice of protest, and diligence upon all Notes, Accounts or Leases, now or hereafter executed, indorsed, transferred, guaranteed or assigned by the said Edwin Fowler to the White Sewing Machine Company, its agents or assigns, then this obligation to be void, but otherwise to be and remain in full force and effect.” ‘
Numerous authorities cited in the briefs, and others, hold that the words "for value received” are a sufficient expression of the consideration. (Day v. Elmore, 4 Wis. 190; Cheney v. Cook, 7 Wis. 423; Douglass v. Howland, 24 Wend. 35; Edelen v. Gough, 5 Gill, 103; Flowers v. Steiner, 108 Ala. 440, 19 South. 321; Dahlman v. Hammel, 45 Wis. 466; Emerson v. Aultman, 69 Md. 125, 14 Atl. 671; Whitney v. Stearns, 16 Me. 394; Martin v. Hazzard Powder Co., 2 Colo. 596; Osborne v. Baker, 34 Minn. 307, 25 N. W. 606, 57 Am. Rep. 55; Baylies on Sureties & Guaranties, 87; Siemers v. Siemers, (Minn.) 60 Am. St. Rep. 430, and cases there cited in the note.)
The rules that the surety will be bound if the consideration can be fairly implied from the language of the instrument, and that the extension of credit is a sufficient consideration, are supported by many decisions. (Eastman v. Bennett, 6 Wis. 232; Hutton v. Padgett, 26 Md. 228; Church v. Brown, 21 N. Y. 315; Young v. Brown, 53 Wis. 333, 10 N. W. 394; Rigby v. Norwood, 34 Ala. 129; Highland v. Dresser,
The order and judgment of the district court are affirmed.