Long v. Shafer
Missouri Court of Appeals
Appeal from Texas County Circuit Court. — Hon. L. B. Woodside, Judge. (1) Plaintiff was a holder for value of the note (sec. 9998, R. S. 1900), and the defendants having signed the same as makers were primarily liable thereon (sec. 10161, R. S. 1909), and their engagement to pay it according to its tenor was absolute (secs. 10161 and-10030, R. S. 1909). McCarty v. Smith, 97 Pac. 329; Yanderford v. Farmers and Merchants Bank, 105 Md. 164; S. C., 10 L. R. A. 129; S. G, 66 Atl.…
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Appeal from Texas County Circuit Court. — Hon. L. B. Woodside, Judge. (1) Plaintiff was a holder for value of the note (sec. 9998, R. S. 1900), and the defendants having signed the same as makers were primarily liable thereon (sec. 10161, R. S. 1909), and their engagement to pay it according to its tenor was absolute (secs. 10161 and-10030, R. S. 1909). McCarty v. Smith, 97 Pac. 329; Yanderford v. Farmers and Merchants Bank, 105 Md. 164; S. C., 10 L. R. A. 129; S. G, 66 Atl. 47; West v. Stubblefield, 17 App. Cases (D. C.), 283; Union Trust Co. v. McGrinty, 212 Mass. 205; S. G, Ann. Cases,…
1Dissent
DISSENTING OPINION.
STURGIS, J.
I dissent from the majority opinion herein. The release of an accommodation maker of a note by reason of the surrender by the payee of security held by him is placed on the same ground as a. release of such a maker by reason of the payee making’ a binding agreement for an extension of time. Both the plain reading of the negotiable instrument act and' the great weight of authority is against the proposition that, as between the original parties to a negotiable note, an accommodation maker is discharged by reason of the payee, knowing him to be such, making a valid…
2Cases cited12 opinions
- Union Trust Co. v. McGintyMassachusetts Supreme Judicial Court · 1912
- Vanderford v. Farmers' & Mechanics' National BankCourt of Appeals of Maryland · 1907
- Rouse v. Wooten.Supreme Court of North Carolina · 1906
- Cellers v. MeachemOregon Supreme Court · 1907
- Fullerton Lumber Co. v. SnoufferSupreme Court of Iowa · 1908
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