L. W. Wentzel Implement Co. v. State Finance Co.

MORRIS, Chief Justice.

This is an action to recover on a promissory note from an endorser thereof. The note, dated December 19, 1949, was executed by one Vernon S. Hoppe in favor of Elmer T. Nygren in the sum of $1700 and bearing interest at six per cent. It was due October 1, 19S0. On December 27, 1949, Nygren borrowed $300 from the defendant and as collateral security for this loan turned over to the defendant the Hoppe note, on the back of which he placed the following signed endorsement:

“For value received I hereby sell and assign this promissory note and attached chattel mortgage to the…