McNaghten Loan Co. v. Sandifer

The opinion of the court was delivered by

Hutchison, J.:

The main question involved in this appeal is the extent of the liability of one who indorses a promissory note without recourse when one of the signatures on the note is a forgery. The trial court held that the indorser was liable, but only to the extent of a possible recovery from-the party whose name was forged. Both parties appeal.

The plaintiff loan company, after having sued the makers of a note for $1,230 and failed to collect anything thereon, brought this action against the party who had indorsed the note without recourse. Attached…