Ohio Savings Bank Co. v. Marleau

CHITTENDEN, J.:

Epitomized Opinion

The Ohio Savings Bank & Trust Company brought an action on various promissory notes. A corporation borrowed money of a bank and gave certain notes for the loan, secured by collateral, and the personal endorsement of two of the officers of the Marleau-Bucklen-Schoen Company. As the company could noil pay these notes when they matured, the time was extended. and new notes given. At the time these new notes were given a contract was entered into by the parties. Shortly afterwards the bank brought suit on the old notes against the indorsers. The defendants claimed…