First National Bank of Irwin v. Foster

Opinion by

Mr. Justice Frazer,

Plaintiff discounted three judgment notes signed by the Jersey Cereal Food Company, each of them containing an endorsement signed by defendant and another to the effect that they did “guarantee payment of the within note.” The Jersey Cereal Food Company subsequently became financially involved and on July 14, 1922, plaintiff entered judgment on the three notes. A receiver was appointed for the company July 26th, but within four months from the date of entry of the judgments a number of creditors prepared to file a petition in bankruptcy against the company,' to…