Bank of Luverne v. Sharp
Supreme Court of Alabama
Assumpsit. Appeal from Crnshaw Circuit Court. Heard before Hon. J. C. Richardson. Action by the Bank of Luyeme against C.K. Sharpe. From a judgment sustaining demurrers to the complaint plaintiff appaels. Action against an indorser of several promissory notes, the principal to which is not sued.
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Assumpsit. Appeal from Crnshaw Circuit Court. Heard before Hon. J. C. Richardson. Action by the Bank of Luyeme against C.K. Sharpe. From a judgment sustaining demurrers to the complaint plaintiff appaels. Action against an indorser of several promissory notes, the principal to which is not sued. The case made by the various counts of the complaint is that certain teachers executed certain notes to H. C. Tharpe, each in the sum of $9.75, and-which notes are in words aid figures as follows: “$9.75. Luverne, Alabama, 1-4-1904. On or before March 1, 1904, I promise to pay to the order of H. C.…
1Opinion of the CourtAnderson, J.
-While there is considerable conflict and confusion among tbe cases, as well as tbe textbooks, as to tbe liability of tbe indorser of a nonnegotiable note, we are disposed to follow tbe line of decisions holding that tbe indorser of a note not negotiable is liable to tbe indorsee-to tbe same extent as tbe indorser of a negotiable note (Byles on Bills, 146, and note; Jones v. Fades, 4 Mass. 245; Sanger v. Stimpson, 8 Mass. 260); tbe only distinction being, not as to extent of liability, but as to tbe action of the indorsee to fasten tbe liability after default by tbe maker. In case of…
2Cases cited3 opinions
- Jones v. FalesMassachusetts Supreme Judicial Court · 1808
- Sanger v. StimpsonMassachusetts Supreme Judicial Court · 1811
- Sample v. RoyallSupreme Court of Alabama · 1842
3Cited by1 opinion
- Wyatt v. StateSupreme Court of Alabama · 1952