Fourth National Bank v. Frazier

Opinion delivered July 17, 1874, by

Thayer, J.

The facts as they appeared upon the trial were, that the defendent made his promissory note for $2500 payable to the order of Jas. S. Chambers, who endorsed it. The note was made for the accommodation of'Alexander Cummings, who procurred its discount by the plaintiffs, the bank placing the proceeds to his credit. At the time of obtaining the discount Cummings confessed a judgment to the plaintiffs for a larger amount as a security for the note and for renewals of it. When the note in suit (which was a renewal of the original note) fell due, the…