Van Marel v. Watson

(After Stating the Facts as Above.) — The first assignment is that the court erred in overruling the demurrer to the complaint. This contention is based on the fact that Watson Brothers, the payees in the note, assigned and transferred it to the Western States Securities Company and guaranteed its payment, and, -when the amount due thereon was paid by them in compliance with their guaranty and the note taken back, the company did not indorse or reassign it.

When snit is brought on a note by the payee thereof, however, it is not necessary that he allege he is its owner and holder, but it is…