Equitable subrogation is to be distinguished from conventional subrogation which arises when the surety is substituted in the place of the creditor, by agreement. This latter kind of subrogation may give the surety greater rights than he could claim without the agreement, as it may afford to the surety a chance, in a way, to speculate on the transaction, as for instance he may pay the debt before it matures, the creditor agreeing in consideration of early payment to take less than the whole, and to transfer the debt to the surety, and in such case on maturity of the obligation the surety may collect the entire amount.

62 Lidderdale vs.Robinson,2Brock., 159. 63 Statutes 19 and 20 Vic. C, 97 S., 5.

64 Lumpkin vs. Mills, 4 Ga., 343;

Hill vs. King, 48 Ohio State, 75.

65 Smith vs. Rumsey, 33 Mich., 183.