Lincoln-Alliance Bank & Trust Co. v. Fisher

Section 59 of the Civil Practice Act provides that the operation of a statute of limitations may be prevented by “ an acknowledgment or promise contained in a writing signed by the party to be charged.” In the instant case defendant-respondent is a cosigner of a promissory note which is being sued on. Pursuant to a letter of inquiry and warning that respondent’s collateral *466would be sold and an action brought for any balance due on the note, respondent wrote plaintiff the following letter: “Received your letter this morning and very sorry the condition of things both for yourself and myself.…