Chesebro, Robbins and Graham, Inc. v. Leadbetter

Defendant is the president of the Tip Top Food Market, Inc., a Connecticut corporation. In this action the plaintiff, a creditor of the corporation, seeks to hold the defendant personally liable as an alleged indorser on the corporation's promissory note to it of July 29, 1952, in the amount of $604.15. It is conceded that the note is that of the corporation and that the defendant was authorized to sign it as president of the corporate maker.

The form of the indorsement upon which the plaintiff seeks to hold the defendant personally liable, reads: "FOR VALUE RECEIVED, I hereby indorse the…