Burnard v Lysnar - [1927] NZLR 757

Principal and Surety — Person endorsing Promissory Note for Debt of another — Instrument by way of Security given by Endorser for Amount of Debt — Grantor Surety merely — Subsequent Assignment of Instrument to Third Party — Full Knowledge of Assignee's Solicitor of Nature of Grantor's Liability — Assignee bound by Equities affecting Assignor — Time given to Principal Debtor without Consent of Surety — Surety discharged from Liability.