Mackintosh v. Gibbs

The opinion of the court was delivered by

Swayze, J.

This was an action brought against the endorsers of a promissory note, of which the following is a copy:

*41"$3,500.00. Sam Diego, Cal., October 7th, 1901.

“Two years after date, without grace, for value received, I promise to pay to the order of Ella J. Gibbs, at the First National Bank of San Diego, Thirty-five hundred Dollars, with interest at the rate of 5 per cent, per annum from October 7th, until paid, interest payable semi-annually, and if not so paid to be compounded with and bear the same rate of interest as the principal; and should the…