Donlin v. Wamsley

Taylor, C.

On December 21, 1921, the defendants executed to Thomas Dwyer an instrument termed a bond, but in which there is no principal and which in substance and effect is a guaranty. The portion of this instrument here material reads:

“The condition of this obligation is such, that whereas the said Thomas Dwyer has money deposited in the Farmers State Bank of Brooten, Minn., on open checking account and time certificate of deposits and this bond is given unto Thomas Dwyer as a guarantee that the said Farmers State Bank of Brooten shall pay to Thomas Dwyer in full all money that he now has on…