Cohen v. White

The defendant Bernard White, who has not appealed, maintained with the brokerage firm of L. F. Rothschild & Co. an account which, in August, 1929, was in a precarious condition. In order to avert a sale of the collateral, but without any request on the part of either defendant, the plaintiff, on August 26, 1929, executed a guaranty to L. F. Rothschild & Co., guaranteeing payment of any indebtedness of Bernard White incurred in connection with the account. On June 19, 1930, the defendant Morris White, the father of Bernard White, at the plaintiff’s request, wrote to the plaintiff saying: “ In…