Pederson v. First Nat. Bank of Nevada

OPINION

By the Court,

Manoukian, J.:

A complaint was filed by Respondent, First National Bank of Nevada, against co-respondents Orme and Dixie Kilburn, andBjarne Pederson, Appellant, for collection of a $10,588.52 balance remaining on a promissory note. Kilburns, defendants below, as endorsers of the note, cross-complained against Pederson, contending that he had agreed to indemnify them as to the unpaid balance. Pederson defended against both claims urging as his “Fourth Affirmative Defense” that a full compromise and settlement had been effected which precluded the liability of either the…