Summary

Portrait of Melville Fuller Melville Fuller Willard v. Wood (164 U.S. 502)…

If the person who is admitted to be the creditor's debtor stands, at the time of receiving the security, in the relation of surety to the person from whom he receives it, it is quite immaterial whether that person is, or ever has been, a debtor of the principal creditor, or whether the relation of suretyship, or the indemnity to the surety, existed, or was known to the creditor, when the debt was contracted.
Source: Wikisource

Portrait of Melville Fuller Melville Fuller Willard v. Wood (164 U.S. 502)…

In his answer Bryan relied on Wood's answer, which set up laches and the statute of limitations. But the recognized doctrine of courts of equity to withhold relief from those who have delayed the assertion of their claims for an unreasonable length of time may be applied, in the discretion of the court, even though the laches are not pleaded, or the bill demurred to.
Source: Wikisource

Portrait of Melville Fuller Melville Fuller Willard v. Wood (164 U.S. 502)…

In short, if one person agrees with another to be primarily liable for a debt due from that other to a third person, so that, as between the parties to the agreement, the first is the principal, and the second the surety, the creditor of such surety is entitled, in equity, to be substituted in his place for the purpose of compelling such principal to pay the debt.' 133 U.S. 623, 10 Sup.
Source: Wikisource

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