Bank of Whitehouse v. White

Is the negotiability of a note destroyed by a provision on the part of the obligors that:'

“We authorize the holder thereof to extend- the payment of the same, or any part thereof, without imparing our joint and several liabilities, and the sureties agree to waive notice of any extension of time. ’ ’

The contention in behalf of the appellant is based upon section 1, subsec. 3, of the Negotiable Instruments Act, 1899, chapter 94:

“An instrument, to be negotiable, must conform to the following requirements:

“ * * # (3) Must be payable on demand, or at a fixed or determinable future time.” , .

We…