Sawyer State Bank v. Sutherland
North Dakota Supreme Court
Appeal from the District Court of Ward County, C. M. Cooley, Special Judge. Indorsérs on a note are released by reason of an unauthorized extension of time, “by any agreement binding upon the holder to extend the time of payment, or to postpone the holder’s right to enforce the instrument.” No such agreement was here made. Comp.
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Appeal from the District Court of Ward County, C. M. Cooley, Special Judge. Indorsérs on a note are released by reason of an unauthorized extension of time, “by any agreement binding upon the holder to extend the time of payment, or to postpone the holder’s right to enforce the instrument.” No such agreement was here made. Comp. Laws 1913, § 7005. An indorsement upon a promissory note is open to the defense that the party indorsing had an agreement that by indorsing no liability would be created; that the indorsee assumed all liability thereon, and that such indorsement was made wholly for…
1Opinion of the Court
Grace, J..
This is an appeal to this court from the district court of Ward county, and from an order denying motion for judgment non obstante or for a new trial.
The complaint, for causes of action against M. ft. Sutherland and E. A. Price, alleges that on the 24th day of November, 1909, defendant Sutherland executed and delivered a promissory note in the sum of $27 in favor of the defendant E. A. Price; said note bearing interest at 12 per cent per annum, and due October 15th, 1910. That prior to said date E. A. Price indorsed said note with waiver of protest, and sold and delivered said note…
2Cases cited1 opinion
- A. B. Farquhar Co. v. HighamNorth Dakota Supreme Court · 1907
3Cited by7 opinions
- L. W. Wentzel Implement Co. v. State Finance Co.North Dakota Supreme Court · 1954
- Muenz v. Bank of BowdleSouth Dakota Supreme Court · 1924
- Waltham State Bank v. TuttleSupreme Court of Minnesota · 1924
- Cohen v. WolffsAppellate Court of Illinois · 1926
- Dougherty v. ShanklandSupreme Court of Iowa · 1933
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