Peter J. Vanderbilt, Appellant v. John Schreyer, Impleaded

Summary

The Court held that a guarantor, even if only conditionally liable, may be made a party defendant in a foreclosure action and be liable for any deficiency. It further held that a guaranty lacking consideration is void and constitutes a valid defense, and that the trial court erred in excluding evidence of that lack of consideration, warranting a new trial.