152 * McKIM v. THOMPSON.

Bell, or the house of William & John Bell & Co., to the full
amount of what the said Marcus Heyland might owe or stand
indebted to the said house. Now these presents therefore wit-
ness, that in consideration of the premises before recited, the
said Marcus Heyland doth hereby acknowledge himself, his heirs,
executors, and administrators, to be and stand bound unto the
said Hugh Thompson, his executors, administrators, and assigns,
in and for such balance, or sum of money as shall or may be found
to be due, or owing from the said Marcus Heyland to the aforesaid
house of William & John Bell & Co., on account of the transaction
before alluded to, or otherwise, to the time of executing these pre-
sents; and doth hereby covenant and agree to and with the said
Hugh Thompson, that he, the said Marcus Heyland, shall and will
immediately after the execution of these presents, proceed to account
with the said Hugh Thompson for, and pay to him, the amount of
the aforesaid acceptances, in the same manner as if it were ascer-
tained that they had been duly honoured and paid by the said
William & John Bell & Co.; and the said Hugh Thompson doth
hereby covenant, and oblige himself and the said house of William
& John Bell & Co., in pursuance of the authority vested in him for
that purpose, to allow to the said Marcus Heyland the benefit of
the current exchange, on all payments made by him on the account
aforesaid; and further doth hereby bind and oblige himself to
indemnify the said Marcus Heyland from and against all claims and
demands, that may be rightfully made against him for, or on
account of the said acceptances, either by the said William & John
Bell & Co., or by the respective holders of the said acceptances, to
an amount equal to the sum which may be paid over to the said
H^g-h Thompson in virtue of this arrangement. In testimony
whereof the said Marcus Heyland and Hugh Thompson have here-
unto subscribed their names and affixed their seals, on the eighth
day of January, in the year of our Lord one thousand eight hundred
and eleven."

It further appears, that, subsequent to these agreements, Heyland
did, at various times, between the 5th of March and the 13th of
September, 1811, pay to Thompson, the sum of .£8889 5s. 4d.
sterling; that the bills, drawn by Heyland, had been protested for
non payment, and then remained unpaid. And it further appears,
that, some short time before April, 1812, Heyland failed, and
obtained the benefit of the insolvent laws of this State; -ted that
John McKim, jun'r, and Thomas L. Emory, jun'r, were appointed