Mertz v. Fleming

We are to consider the effect of the words, “It is understood that a payment of at least $50 a month will be made on the within note,” which appeared on the left-hand margin thereof. It is the contention of the appel*60lants that these words constitute a material alteration of the note and have the effect of extending the time of payment, thereby releasing them from their contract as indorsers. We may say at the outset that, whatever effect is to be accorded these words, they do not extend the time of payment. The body of the note provides that the whole amount of $3,000 shall be paid within one…