THE

LAW OF CONTRACTS.

BY

THEOPHILUS PARSONS, LL. D.,

DANE PROFESSOR OF LAW IN HARVARD UNIVERSITY, AND AUTHOR OF TREATISES OK
THE ELEMENTS OF MERCANTILE LAW, ON NOTES AND BILLS, AND THE
LAWS OF BUSINESS FOR BUSINESS MEN.

VOLUME IL

FIFTH EDITION.

BOSTON:

LITTLE, BROWN, AND COMPANY.

1866.

Entered according to Act of Congress, in the year 1853, by

THEOPHILUS PARSONS,

In the Clerk's Office of the District Court of the District of Massachusetts.

Entered according to Act of Congress, in the year 1855, by
THEOPHILUS PARSONS,

In the Clerk's Office of the District Court of the District of Massachusetts.

Entered according to Act of Congress, in the year 1857, by
THEOPHILUS PARSONS,

In the Clerk's Office of the District Court of the District of Massachusetts.

Entered according to Act of Congress, in the year 1860, by
THEOPHILUS PARSONS,

In the Clerk's Office of the District Court of the District of Massachusetts.

Entered according to Act of Congress, in the year 1864, by
THEOPHILUS PARSONS,

In the Clerk's Office of the District Court of the District of Massachusetts.

CONTENTS.

PART I.

THE LAW OF CONTRACTS CONSIDERED IN REFERENCE TO

THE OBLIGATIONS ASSUMED BY THE PARTIES-Continued

SECTION VI.

How a guarantor is affected by indulgence to a debtor.