McNee v. Ring

On August 27, 1929, the defendant Morris Ring gave to the bank his promissory note for $1,330.50, with interest payable on demand. The defendant Charles Goldsand indorsed the note before delivery, concededly as an accommodation indorser, without consideration and as an inducement to the bank to discount the same.

The note is what is known as a collateral note; that is, in addition to the indorsement of the defendant Goldsand, it was further secured by certain securities, which apparently proved worthless.

The note was not protested for non-payment until June 20, 1934.

This action is brought to…