Armstrong v. Slick
Idaho Supreme Court
APPEAL from the District Court of Fifth Judicial District for Bannock County. Hon. Alfred Budge, Judge. Appeal from an order denying the dissolution of an attachment. The right of the indorser and guarantor of a draft or a mote is contingent, collateral, conditional and secondary to that of the acceptor of the draft and the maker of the note. (Daniels on Nego. Instr., 5th ed., secs. 532, 1236; Raborg v. .Peyton, 2 Wheat.
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APPEAL from the District Court of Fifth Judicial District for Bannock County. Hon. Alfred Budge, Judge. Appeal from an order denying the dissolution of an attachment. The right of the indorser and guarantor of a draft or a mote is contingent, collateral, conditional and secondary to that of the acceptor of the draft and the maker of the note. (Daniels on Nego. Instr., 5th ed., secs. 532, 1236; Raborg v. .Peyton, 2 Wheat. (U. S.) 385, 4 L. ed. 268; 14 Eney. of Law, 2d ed., 1129 et seq.) The liability of an indorser and guarantor of a draft or a •mote, being collateral and conditional, is not…
1Opinion of the Court
SULLIVAN, J.'
This action was brought to recover upon four bills of exchange and two promissory notes for a sum aggregating approximately $54,000, including interest and attorneys’ fees. Said bills of exchange were dated February 20, 1906, and were executed by the appellants to the order of themselves and drawn on the Glenn’s Ferry Land & Irrigation Co., and were indorsed on that date by the appellants under the name of Slick Bros., as follows, to wit:
“For value received, we hereby guarantee payment of the within note, waiving demand of payment, protest and notice of nonpayment.
(Signed) “SLICK…
2Cases cited1 opinion
- Elbring v. MullenIdaho Supreme Court · 1894
3Cited by3 opinions
- Square Butte State Bank v. BallardMontana Supreme Court · 1922
- Miller v. Lewiston National BankIdaho Supreme Court · 1910
- Ross v. Gold Ridge Mining Co.Idaho Supreme Court · 1908