First National Bank of Binghamton v. Baker
Appellate Division of the Supreme Court of the State of New York
Appeal by the defendant, E. I. DuPont de Nemours Powder Company, from an interlocutory judgment of the Supreme Court in favor of the plaintiff, entered in the office of the clerk of the county of Broome on the 14th day of February, 1914, overruling its demurrer to the complaint.
1Opinion of the Court
Kellogg, J.:
The action was brought to foreclose a mortgage executed by the defendants Baker to one Bayless. Bayless, for the accommodation of the Bakers, November 27,1912, indorsed their note payable to the plaintiff bank for $2,000, two months after date, and the mortgage was given by them to secure him on account of said indorsement. They owed no indebtedness to him and none could arise from them to him unless he paid the note or was charged with liability thereon. The obligation of an indorser is that if the note is duly presented for payment and notice of non-payment duly given to him, he…
2Cases cited1 opinion
- Seacord v. Miller & MillerNew York Court of Appeals · 1855