VENDOR AND PURCHASER-VENDOR'S RELEASE OF SUB-ASSIGNEE HELD A DISCHARGE OF ALL PRIOR ASSIGNEES

The bank for which plaintiff is receiver sold land on contract. There followed four successive assignments of the vendee's interest, in each of which the assignee expressly assumed the contract obligation. After the fourth assignment, default occurred as to payments and taxes, and plaintiff began negotiations to sell the property to an intermediate assignee, R. To effectuate this sale, plaintiff procured an assignment in blank from the fourth assignee, W, in consideration of a release of W from further liability on the contract. The negotiations with R having failed, plaintiff brought suit against the vendee and all the assignees to foreclose the land contract and to obtain a decree for deficiency.

Held, two justices dissenting, the vendor's conduct in releasing a sub-assignee terminated the liability of the vendee and all intermediate assignees who had assumed the-contract. McCurdy v. Van Os, 290 Mich. 492, 287 N. W. 890 (r939).