Hulbert v. . Douglas

It is conceded that the appellant, when owner of the note and its coupons, subject to the lien for the money advanced and for which it was held as collateral security, received from the maker $4,000 as a part payment, under an agreement that it should be entered as a credit, and that, without a disclosure of the fact, the note was endorsed for its full value, before anyone of the four attached coupons remaining had matured. The first coupon had been cut off and was retained by the appellant. The endorsement clearly rendered him liable as such, for all appearing to be due upon the face of the…