The law of bills, notes and checks . erton, 60 Conn. 410; Wheeler v. Traders Bank, 107 Ky. 653,49 L. R. A. 315. Where a note was non-negotiable, the writing of the name of thetransferee on the back of it operated as an assignment only withoutfurther liability. Bright V. Offield, 143 Pac. (Wash.) 159. The fact that the name of the maker was forged will not discharge theindorser. Lennon v. Grauer, 159 N. Y. 433; Harris v. Fowler, 59 App. Div.(N. Y.) 522; Williamsburg Trust Co. v. Turn Suden, 120 App. Div. (N. Y.)518; National Bank of Danvers v. National Bank of Salem, 151 Mass. 281. One who indo
The law of bills, notes and checks . erton, 60 Conn. 410; Wheeler v. Traders Bank, 107 Ky. 653,49 L. R. A. 315. Where a note was non-negotiable, the writing of the name of thetransferee on the back of it operated as an assignment only withoutfurther liability. Bright V. Offield, 143 Pac. (Wash.) 159. The fact that the name of the maker was forged will not discharge theindorser. Lennon v. Grauer, 159 N. Y. 433; Harris v. Fowler, 59 App. Div.(N. Y.) 522; Williamsburg Trust Co. v. Turn Suden, 120 App. Div. (N. Y.)518; National Bank of Danvers v. National Bank of Salem, 151 Mass. 281. One who indorses checks for deposit guarantees the validity of priorindorsements, including one alleged to have been forged. Geering v. Metropolitan Bank, 170 App. Div. 751. The indorser of negotiable paper does not, by his indorsement, warrantto the drawee of the genuineness of the signature of the drawer, but hisindorsement extends such warranty only to subsequent holders in duecourse. Farmers & Merchants Bank v. Rutherford, 115 Tenn. %i ^^ c>^.oJ2^^ y^ LIABILITIES OF PAETIES 203 (INDORSED)MICHAEL LUMBRANO Where a note was made in the firm name, and before delivery a mem-ber of the partnership placed his name on the back of the note, under thissection he thereby added to his liability as maker a several and distinctliability as indorser, thereby making himself individually liable for the pay-ment of the note, after due notice of dishonor, and also guaranteeing thesignature on the face of the note, and rendering himself liable individuallyto an action by an indorsee. National Exchange Bank v. Lumbrano, 29 R. I. 64. The indorsement of a promissory note implies a guaranty by the in-dorser that the maker was competent to contract in the character in whichby the terms of the note he purported to contract. The indorser cannotset up the incapacity of the maker for the purpose of defeating his ownliability. Youngs Estate, 234 Pa. St. 287. One who indorses a promissory note, purporting to
Size: 2986px × 837px
Photo credit: © The Reading Room / Alamy / Afripics
License: Licensed
Model Released: No
Keywords: ., bookauth, bookcentury1900, bookdecade1910, bookidcu31924018845499
