1924 (3) TMI 6

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.... of two promissory-notes for Rs. 500 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 ....

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....th the plaintiff, he is liable to 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 th....