Stockard v. Granberry

71 Tenn. 668
CourtTennessee Supreme Court
DecidedDecember 15, 1879
StatusPublished

This text of 71 Tenn. 668 (Stockard v. Granberry) is published on Counsel Stack Legal Research, covering Tennessee Supreme Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Stockard v. Granberry, 71 Tenn. 668 (Tenn. 1879).

Opinion

Deaderick, C. J.,

delivered the opinion of the court.

In 1860 Granberry recovered, before a justice of the peace of Maury county, fourteen judgments, aggregating something upward of six thousand dollars, against A. J., G. "W. and L. J. Polk. Complainant Stock-[669]*669ard became stayor of these judgments. In May, 1861, executions were issued upon them, but returned unsatisfied, probably by order of Granberry. On May 22, 1865, alias executions were issued upon said judgments and placed in the hands of deputy sheriff Ricketts for collection. Within ten days thereafter the deputy sheriff saw the Polks and informed them he would levy on their property as he was instructed to do by Granberry. It was proposed by the Polks or Gran-berry to execute a deed of trust to secure the debts. This proposition was accepted, and a few days thereafter two deeds of trust were executed, one by G. W. Polk and the other by L. J. Polk, to James H., Thomas, trustee, A. J. Polk having become insolvent; the deputy sheriff surrendered the executions to Granberry, and his costs were assumed by the Polks.

The deed of L. J. Polk provided for one-half of the fourteen judgments, and that of G. W. for the other half. Upon closing said trusts the half secured by Lucius J.’s deed was fully paid. That half included in said G. W. Polk’s deed was not paid, nor any part thereof.

In 1872 Stockard filed his bill to enjoin the sale of his land, upon which Granberry had had pluries executions issued and levied, and returned for condemnation to the circuit court. He claims to be released from liability on said judgments on the ground that Granberry had not acted in good faith in ordering the return of the executions and procuring from the Polks a conveyance of all their property in trust to secure other debts, besides the fourteen judgments, due to him[670]*670self and others; and that said trust deed of G. W. Polk as to one-half of said judgments postponed them to other large debts, and nothing was realized to be • applied to them.

As no question of practical importance arises upon •the deed executed by L. J. Polk, it is needless to -further consider its provisions, except to say it secured other debts than the half of said judgments.

In regard to the deed of G. ~W. Polk, it conveyed all his real estate except, as he stated on his exami•nation as a witness, a small tract of land of comparatively small value in- Dyer county, Tennessee, and a tract of land in Arkansas. It also conveyed, as we infer, all his personal estate, including knives and forks, ■etc. So that while he had a very valuable real and personal estate in Maury county up to the time of the execution of his trust deed, subject to execution •at law, after that he had no property in said county which could be reached by execution. The first debts secured are fourteen judgments due Granberry, and recovered in January, 1861, each for from $469 to $475. The next are notes and claims of the Bank of Tennessee, number and amounts not given, upon which his brother, Lucius J., is security. The next claim to be paid is a note to Andrew Erwin, guardian, fon $5,000; the next is a debt to Isaac H. Hilliard, in. the sum of $15,000; the next is a debt to James J. Bryant, of about $1,200; the next is a medical bill to complainant, Stockard, amount not given. Then follows, as the 7th in the order of payment to be añade, the one-half of the said fourteen judgments due [671]*671’Granberry. The next claim is a note to S. W. Fitzpatrick for about $3,500; then a note to Morgan Fitzpatrick for about $4,200. Then follows the last of his debts mentioned and intended to be secured, evidenced by three notes, aggregating about $680, and due to James Aiken.

The deed provides that if said George W. shall pay the foregoing debts on the first of June, 1866, the trustee shall reconvey the same, and stipulates that the property shall remain in the grantor’s possession until it is necessary to sell the same, unless the trustee should think it best for those interested that he should take possession of the same. The debts were to be paid in the order named, from which it will appear that a large amount was preferred to the half of the fourteen judgments therein mentioned.

Granberry filed a cross-bill seeking to have Stock-ard'’s land, consisting of a house and lot of several acres, sold for the satisfaction of the unpaid half of the said fourteen judgments. The pluries executions had been issued and levied upon said house and lot in 1870. The said executions had been returned to the circuit court for condemnation of the land, and the same were still pending when the original bill was filed in this case.

Stockard answered Granberry’s cross-bill, insisting h.e should not be held liable, avering, as he had done in his bill, that the executions in the hands of Rick-etts, deputy sheriff, had been placed there by Gran-berry with instructions to make the money; that he was so informed by Granberry while Ricketts had the [672]*672executions in his hands, and he had no information or knowledge of a return of said executions without levy, or taking of the trust deed until sometime after it was done, when he expressed his dissatisfaction, but was assured by Granberry 'that the deed made the debt safe.

In 1874 Stockard died, having first made his will,, in which he devised said house and lot to his niece, Mrs. Beech, and made other devises and * bequests. Mrs. Beech and her husband, and the administrator of Stockard, were made parties to the suit, Beech and wife claiming that the personal estate of Stockard, if he should be held liable, should first be applied to pay the said judgments. And it appeared that the administrator of Stockard had suggested to the county-court the insolvency of his estate.

The chancellor decreed in favor of Granberry for-$6,302.32, to be paid first out of the personal estate, and next for any balance out of the house and lot, and lastly, to the extent of $5,000, the penalty of the bond against the surety of Stockard on his injunction bond for any balance. Stockard’s administrator and Beech and wife appealed.

The liability of Stockard’s estate, depends upon the question whether Granberry’s interference with the officer having the executions, and his taking a deed of trust for the judgments and other debts, was an act of bad faith, and prejudiced the rights of Stockard. Although there was no express stipulation in the deeds for delay, Ricketts, the deputy sheriff, and George W. Polk, testify that it was understood between the par[673]*673ties that the Polks were not to be pressed if the deeds were executed.. But even if such contract for delay had been made between the creditor and principal debtor, this of itself, after judgment, would not release their surety or stayor, who is also a surety, because such surety has the right to judgment against his principal, notwithstanding such agreement for delay. This has been held in numerous cases upon the ground that such delay does not deprive the surety of the means of protecting himself against the payment of the debt. He may obtain judgment and have execution levied on the property liable to the suspended execution of the creditor, and for this reason it has been said a surety has his remedy in his own hands after judgment.

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Bluebook (online)
71 Tenn. 668, Counsel Stack Legal Research, https://law.counselstack.com/opinion/stockard-v-granberry-tenn-1879.