Ex parte Frederick Meyer. Edward Simeon Meyer and Thomas George Brownsmith
| Jurisdiction | England & Wales |
| Judgment Date | 31 May 1848 |
| Date | 31 May 1848 |
| Court | High Court of Chancery |
English Reports Citation: 43 E.R. 1434
BEFORE THE VICE-CHANCELLOR KNIGHT BRUCE.
[775] Ex parte frederick meyer (see 6 De G. M. & G. 766). In the Matter of edward simeon meyer and thomas george brownsmith. Before the Vice-Chancellor Knight Bruce. May 31, 1848. A., and B. his surety, entered into a bond for payment by instalments of a debt of A., and also of interest and premiums on a policy. As part of the same arrangement, A. and C. (his partner) entered into a counter security to B. by way of joint covenant of indemnity. A. and C. became bankrupt, and the condition of the bond having been fulfilled up to the date of the fiat, was afterwards broken. Held, that B., who paid the amount, could not prove against the joint estate of A. and C. on the counter security. This was an appeal from the decision of a Sub-division Court, rejecting a proof tendered by the Petitioner upon a deed of counter security. In April 1847, the bankrupts Edward Simeon Meyer and Thomas George Brown-smith agreed to become partners as fringe and lace makers, and part of the terms upon which the partnership was formed was, that the bankrupt Edward Simeon Meyer should advance .1750 by way of capital. He had only 1000, and borrowed the remaining 750 from the Victoria Life Assurance and Loan Company, upon the security of a policy for 1500 effected by him with them on his own life, with a bond given to the company in the same amount, under the hands and seals of himself and two sureties, one of whom was the Petitioner. By this bond, which was dated the 10th of June 1847, the bankrupt Edward Simeon Meyer and the two sureties, for themselves and each of them, any two of them became jointly and severally bound to three of the trustees of the insurance company in the sum of 1500, subject to a condition whereby, after reciting that the sureties had agreed to join with Edward Simeon Meyer in the bond, subject to the conditions thereunder written, as sureties for Edward Simeon Meyer, the bond was to be void on the bankrupt E. S. Meyer and the two sureties, or any or either of them, paying to the trustees 750, by three 8DEO.M.fcO.T76. EX PARTE MEYER 1435 equal annual instalments of 250 each on the 16th day of June in each of the [776] years 1848, 1849 and 1850, or on the day of the decease of Edward Simeon Meyer, which should first happen, and also in the meantime, and until the principal sum of 750...
To continue reading
Request your trial