This section is from the book "The Law Of Contracts", by William Herbert Page. Also available from Amazon: Commercial Contracts: A Practical Guide to Deals, Contracts, Agreements and Promises.
If the promisor is promising merely to pay his own debt it is not a promise to pay the debt of "another" within the statute, even if the effect of such payment will be to discharge the debt of another.1 Thus an oral promise made by a partner after dissolution to pay a debt of the firm contracted while he was a member,2 or a promise by one bound to keep certain property clear of liens to pay a certain claim which might have been secured by lien on consideration that the holders thereof would not resort to a lien to secure the same,3 is not within the statute.
4 Booth v. Eighmie, 60 N. Y. 238; 19 Am. Rep. 171. For a similar case in which stock was pledged see Taft v. Church, 162 Mass. 527; 39 N. E. 283.
5 Resseter v. Waterman, 151 111. 169; 37 X. E. 875; reversing, 45 111. App. 155.
6 Goodman v. Cohen, 132 X. Y. 205; 30 N. E. 399 (where the insurance appraiser agreed to buy damaged goods, the loss to which was covered by the insurance).
1 Windell v. Hudson, 102 Ind. 521;
2 N. E. 303; Merchant v. O'Rourke, 111 la. 351; 82 N. W. 759; Botkin v. Land Co. (Ky.), 66 S. W. 747; Spadone v. Reed, 7 Bush. (Ky.) 455; McCartney v. Shepard, 21 Mo. 573; 64 Am. Dec. 250; Gill v. Ferrin, 71 N. H. 421; 52 Atl. 558; Hoile v. Bailey, 58 Wis. 434; 17 N. E. 322; Fosha v. Prosser, - Wis. -; 97 N. W. 924.
2 Gill v. Ferrin, 71 N. H. 421; 52 Atl. 558.
3Weilage v. Abbott (Neb.), 90 N. W. 1128.