First National Bank v. Cawley

Coughlin, J.,

Plaintiff bank sued defendant on a promissory note, payable on demand, for $10,400, which was signed by T. A. Gibbons, trustee, he being likewise payee, and endorsed as follows:

“For value received I hereby guarantee payment of the within note, when due, and waive notice of protest.”

This endorsement was signed “T. A. Gibbons trustee,” and there were six other endorsers, of which defendant was the last. In plaintiff’s statement of claim, the payment of $1,485.71 each, upon the part of three of the seven endorsers was admitted, the suit being for the balance, alleged to be…