Branch Banking & Trust Co. v. Boykin

BeogdeN; J.

Two propositions of law are presented by the record, as follows:,

1. Can Thomas H. Boykin show by parol evidence that he signed the $14,090.00 note to Bailey Banking Co. as surety for his brother, A. H. Boykin ?

2. Does Thomas H. Boykin lose his right of subrogation by reason of cancellation of the mortgage securing the $14,090.00 note?

In determining the merits of the first proposition the general rule is that in the hands of an original payee an endorsement may be shown to be upon certain conditions; but a bona fide holder for value before maturity and without notice is not affected…