Hederman v. Cox

On September 17, 1927, one Thos. E. Hand requested appellant, Hederman, to assist him in obtaining a loan of $1,577.52 at a bank. Appellant agreed to assist and offered to endorse Hand’s note for that amount, but Hand stated, in effect, that his bank credit was limited and that it would therefore serve his purposes better if appellant would give him appellant’s note, for the stated amount, made directly to Hand as payee, due one year after date, and that if appellant would do so Hand would give appellant Hand’s note, payable to appellant for the same amount and due on the same date.

This was…