National Builders Bank v. Simons

Mr. Presiding Justice Friend

delivered the opinion of the court.

In 1929, Robert L. Simons, as president of Stone-Field Corporation, obtained loans from National Builders Bank of Chicago, some of which were evidenced by the promissory notes here involved, signed by Simons as president, and bearing his special personal indorsement on the backs thereof. These notes contained the usual warrant of attorney authorizing the entry of judgments of confession, and on the reverse side of each note there appeared the following: “For value received, the undersigned and each of the undersigned in addition…