Weightman v. Caldwell

delivered the opiniop of the Court. The suit below was instituted on a promissory note by the defendant in error. Although it is, in fact, an indorsed note, and so declared on ; yet it is admitted to have originated in a negociation between the maker and indorser, and whatever defence would be good as against the promisee, is admitted to be maintainable against this indorser, the indorser standing only on the ground of a security or ordinary collateral undertaker, to the maker. The defence set up is the statute of frauds, not Under the supposition that a promissory note is a contract within…