In re the Final Accounting of Jones

Respondent-claimant was a director of the S. A. Jones Line Company, Inc. He had, prior to December 18, 1934, indorsed several notes of the company made by the testator herein, as president. According to the evidence, chiefly that of claimant himself but largely uncontradicted, claimant objected to signing more notes without some form of guaranty of indemnity. Accordingly, the testator and one Ames, another company official, each gave instruments in writing which claimant contends were indemnity agreements, each giving him guaranty of indemnity for one-half of any losses sustained as the…