Gleason v. McDonald

ARANT, Circuit Judge.

The plaintiff, as receiver of the Capital National Bank of Lansing, . Michigan, brought action against the defendants, accommodation indorsers of a promissory note executed by Ernest Elliott, on July 7, 1933, in which he promised to pay $1,700 to the order of the Bank twenty-eight days after date. The defendants, who were business associates of Elliott, waived demand of payment, notice of non-payment, protest and notice of protest.

The defendants alleged that the receiver had entered into agreements with Elliott to extend the time of payment and contended that their…