Jenks Hatchery, Inc. v. Elliott

The plaintiff is a corporation which assumed and paid an obligation-of a-partnership. The partnership obligation was that of an accommodation maker on a negotiable promissory note. This action was brought against the principal maker who was accommodated. Defendant appealed from a judgment for plaintiff.

Jenks Hatchery, the partnership, co-signed as an accommodation maker the negotiable promissory note of defendant. The partnership was thereafter converted into Jenks Hatchery, the plaintiff corporation, the stock in which was issued to the partners and their wives. Plaintiff assumed debts of…