Record v. Rochester Trust Co.

In 1918 the defendant made a loan on a promissory note indorsed by two signers for the maker’s accommodation. Over their signatures were written the words “waiving demand and notice.” The plaintiff’s deceased husband was the second signer. He died before the note became due. It was not paid at its maturity, and the executrix was not served with demand and notice. Thereafter, and within one year from her appointment as executrix, the plaintiff gave the defendant her personal agreement to indemnify it against loss and guaranteeing payment of the note in consideration of its grant of an…