Thompson v. Bank of Buckhead

1. An indorsement on a promissory note, made by a stranger to- the note, which provides that, for value received, he does “hereby guarantee the collection and payment of the within note” to the payee of the note, and “consent[s] to any extension of time of payment or any renewal of this note,” is not an indorsement passing title to the note to the person to whom the collection and payment are thereby guaranteed, but is a contract of suretyship or guaranty only; and where such contract is not under seal, although the note itself was executed by the maker under seal, the right of action upon…