Summary

Peter Vivian Daniel Leggett v. Humphreys — Opinion of the Court

The undertaking of the surety is essentially a pledge to make good the misfeasance or non-feasance of his principal to an amount co-extensive with the penalty of his bond. In addition to this interpretation resulting from the character of the obligation of the surety, the statute of Mississippi, which necessarily enters into and controls all contracts made under its authority, expressly limits the responsibility of a surety in a sheriff's bond to the amount of the penalty of that bond.
Source: Wikisource

Peter Vivian Daniel Leggett v. Humphreys — Opinion of the Court

The right to any surplus which, upon a settlement between the appellee and Bland or his representatives, may remain in the hands of the former, we regard as not involved in nor pertinent to this controversy, which relates regularly and exclusively to the question whether the appellee, as the surety for Bland, has fulfilled the exigency of his bond by a satisfaction of the penalty.
Source: Wikisource

Peter Vivian Daniel Leggett v. Humphreys — Opinion of the Court

Thus it is said, on the same page of the work just quoted, that 'the claim against a surety is strictissimi juris; and it is a well-settled principle, that a surety who pays the debt of his principal, will in a clear case in equity be substituted in the place of the creditor to all the liens held by him to secure the payment of his debt; and the creditor is bound to preserve them unimpaired when he intends to look to the surety.' For this doctrine are cited numerolus English and American authorities.
Source: Wikisource

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