1924 (3) TMI 6

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....00 each. Subsequently the defendant obtained a hypothecation bond from the principal debtor. Muthukrishna Naidu, for Rs. 3,500. Part of the consideration was an undertaking by the defendant to discharge the promissory-notes for which he and the plaintiff were jointly sureties. Subsequently a suit was filed on these promissory-notes, and decree was obtained and in execution, Rs. 615 was realised fr....

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....bring in for the benefit of the plaintiff and his co-sureties, whatever he has received from that source. This principle is laid down in Steel v. Dixon (1881) 17 Ch. D. 825 : 50 L.J. Ch. 591 : 45 L T. 142 : 29 W.R. 735 and it is not suggested that the above facts would not be applicable in this case. In neither of the lower Courts does this particular aspect of the case seem to have been considere....