J. I. Case Threshing MacHine Co. v. Howth

The question presented by this case was whether the undisputed facts showed that Howth was discharged from liability on a certain negotiable note signed by him and another as joint makers. The facts disclosed that Howth executed the note as an accommodation maker, receiving no consideration, the other maker being actually the principal obligor, as the payee, who sues herein, well knew; and that'such payee, without Howth’s knowledge, for a valuable consideration, extended to the principal obligor a further definite period of time for the note’s payment. The District Court gave a peremptory…