The law of bills, notes and checks . erand indorser, or either, and the indorser sued upon his contract of indorse-ment is absolutely liable thereon. Where the indorser is himself sued, hemay plead as a set-off the indebtedness of the holder to him. Curtis V. Davidson, 215 N. Y. 395; Building & Engineering Co. Bank of N. Y., 206 N. Y. 400; Armstrong v. Warner, 49 Oh. , 390; Van Wagoner v. Paterson Gas Co., 23 N. J. Law, 283; CountyNational Bank v. Massey, 192 U. S. 138, 148; Scott v. Armstrong, 146U. S. 499, 510; Hughitt v. Hayes, 136 N. Y. 163, 167; Carnige Trust Kistle
The law of bills, notes and checks . erand indorser, or either, and the indorser sued upon his contract of indorse-ment is absolutely liable thereon. Where the indorser is himself sued, hemay plead as a set-off the indebtedness of the holder to him. Curtis V. Davidson, 215 N. Y. 395; Building & Engineering Co. Bank of N. Y., 206 N. Y. 400; Armstrong v. Warner, 49 Oh. , 390; Van Wagoner v. Paterson Gas Co., 23 N. J. Law, 283; CountyNational Bank v. Massey, 192 U. S. 138, 148; Scott v. Armstrong, 146U. S. 499, 510; Hughitt v. Hayes, 136 N. Y. 163, 167; Carnige Trust Kistler, 89 Misc. N. Y. 404. An indorser who is also maker merely warrants the genuineness of hisown contract. Sabine v. Paine, 166 App. Div. 10. Indorsement by executor.—^An executor, even if vested with fullauthority by the probate of the will and the issuance of letters testamentary,has no power to bind the estate by making a contract of indorsement. Schmittler v. Simon, 101 N. Y. 554; Packard v. Dunfee, 119 (N. Y.) ^^.^^^^a^t^^/ ^/f-^^C^t^ Out. -, y ifT-^-*^^^^^—-M^*- u^L {JNBORSEB)SAMUEL GREEN W. MAY Neither executors or administrators have power to bind the estaterepresented by them through an executory contract, having for its object LIABILITIBS OF PABTIES 205 the creation of a new liability, not founded upon the contract or obligationof the testator or intestate. They take the property as owners and haveno principal behind them for whom they can contract. The titie vestsin them for the purpose of administration and they mvist account asowners to the persons ultimately entitled to distribution. In this caseSamuel Green would be liable personally as an indorser, the addition ofthe word Exr. after his name is merely descriptive. The estate which hemay represent would in no way be liable under the form of the indorse-ment regardless of his lack of authority to indorse in behalf of the estate. Schmittier v. Simon, 101 N. Y. 554; Connor v. Clark, 12 Cal.
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