Lee v. Boykin
Supreme Court of South Carolina
Before Moore, J., Kershaw, December, 1919. Action for contribution on ten promissory notes by J. B. Lee, V. M. Montgomery, A. F. McKissick, Aug. W. Smith and Sigo Myers against L. W. Boykin.
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Before Moore, J., Kershaw, December, 1919. Action for contribution on ten promissory notes by J. B. Lee, V. M. Montgomery, A. F. McKissick, Aug. W. Smith and Sigo Myers against L. W. Boykin. From judgment for plaintiffs, the defendant appeals. cite: Plaintiffs and defendants were endorsers of company’s notes: 16 L. R. A. 143 (N. J.) ; 45 S. C. 373; 23 S. C. 139. Distinction between corporation and its stockholders is clearly drawn: 96 S. C. 106. And indorsement of company notes by stockholders is an accommodation endorsement: 170 Fed. 434; 174 Fed. 72. Understanding between plaintiffs as to…
1Opinion of the Court
The opinion of the Court was delivered by
Mr. Justice Gage.
The plaintiffs and the defendant wrote their names in succession on the back of 10 notes, and the question at issue is their relationship one to another thereabout. We shall ’ refer to them as the signers, for indorsers has a technical meaning.
The plaintiffs paid the notes. The defendant refuses to pay, because his name was last written on the note; and he now refuses to contribute, to which end this action was brought. The transaction was had before the enactment of the statute governing negotiable instruments. The master found the…
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