Frye v. Eisenbiess

The only questions involved in this appeal are questions of law presented by the pleadings. The essential facts alleged in the complaint are in brief, substantially as follows: On December 31, 1907, the Valley Paper Company, a corporation, as principal, and appellant, appellees and certain others now insolvent, as joint sureties, executed and delivered to the First State Bank of Elkhart, Indiana, five promissory notes, each for $1,000 bearing interest and payable on demand. The bank demanded payment of the notes shortly after maturity and the principal failed and refused to pay. On November…