Septennial Prescription of Cautionary Obligations, by act 5th Parl. 1695.
Subject_3 SECT. II.
Who entitled to the benefit of the act 1695. - Can the benefit of it be renounced.
Muir v. Fergusson
1728.
January. Case No. No 216.
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Two persons bound conjunctly and severally in a certain sum, a fourth part whereof was the one's debt, and the rest the debt of the other, and bound to one another in a proportional relief, the one was charged for the whole after the seven years prescription; who pleaded, That he ought to be free, in so far as he was cautioner for his co-obligant. Answered, The act 1695 relates only to the case, where one or more correi are obliged to relieve the rest of the whole debt; but where persons engage themselves not from mere friendship and facility, but upon account of having interest in the matter, the statutes gives no protection. The Lords found this clause fell under the act of Parliament. See Appendix.
