Trenton Banking Co. v. Kennedy

Oliphant, C. C. J.

The plaintiff was the holder of numerous notes endorsed hy Kennedy & Pidcock, Inc., and discounted by the said corporation in the plaintiff bank. Defendant had been an officer and stockholder in Kennedy & Pidcock, Inc. Of the notes so held by the plaintiff was one made by Edmund M. Allen and Marion F. Allen in the sum of $3,650. On December 10th, 1938, the defendant signed and delivered to the plaintiff an agreement wherein he “assumed liability for any loss to your bank upon same [referring to numerous notes including the Allen note] until these notes are liquidated. Of…