Lincoln Deposit & Trust Co. v. Sanker

Opinion by

Mr. Justice Schaffer,

Appellants (defendants) seek to escape from an obligation which they assumed to plaintiff upon grounds singularly lacking in merit when the facts connected with the transactions between them and appellee are taken into account.

On July 19, 1924, the Young Men’s Institute Home Association, Inc., of Altoona, borrowed from plaintiff f10,000, to be used in the construction of a building. To enable it to procure the loan, defendants and two others endorsed the note given for it and guaranteed payment thereof. On October 18, 1924, a renewal note of similar amount was…