Lycoming Trust Co. v. Smithgall

Opinion by

Mr. Justice Schaffer,

This is an action by the holder of a promissory note for $2,378.17 against the endorser, who was also payee. The endorsement was not in the ordinary form, but appeared on the back of the note thus: “For value received . . . hereby waive presentment, demand for payment and notice of dishonor of the within note, assign the same to Lycoming Trust Company and guarantee the payment thereof at maturity.” On the trial the jury rendered a verdict for defendant. Subsequently, the court entered judgment for plaintiff non obstante veredicto.

The defense was that the note…