Mechanics' Bank of N. Y. v. Griswold
New York Supreme Court
Demurrer to declaration. This is an action against the defendant as the endorser of a promissory note. The declaration contains three counts.
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Demurrer to declaration. This is an action against the defendant as the endorser of a promissory note. The declaration contains three counts. In the first, after stating the making, endorsement and delivery of the note, the plaintiffs aver that after the making of the note, and before it fell due, to wit, on &c. the makers of the note being merchants, transferred certain goods, chattels and effects, and assigned certain notes, accounts, debts and demands, the property of them the makers, to the defendant and one W. Ford upon trust, to dispose of the property and to collect the debts, and out…
1Opinion of the Court
By the Court,
Nelson, J.
The question presented upon the pleadings in this case is, whether an endorser of a promissory note, who, before the note falls due, takes an assignment; *168of all the property and estate of the makers for the express' purpose meeting of his responsibilities, is entitled to the usual notice of non-payment.
The undertaking of an endorser is to pay the note upon default of the maker, on the condition that it is demanded of the latter at maturity, and reasonable notice of refusal is given to him. The law presumes the maker the debtor, and the object of notice is to advise the…
2Cases cited3 opinions
- Bond v. FarnhamMassachusetts Supreme Judicial Court · 1809
- Jackson v. RichardsNew York Supreme Court · 1805
- Barton v. BakerSupreme Court of Pennsylvania · 1815
3Cited by32 opinions
- Commercial Bank v. HughesNew York Supreme Court · 1837
- Lockwood v. CrawfordSupreme Court of Connecticut · 1847
- Coddington v. DavisNew York Supreme Court · 1846
- Witherow v. . SlaybackNew York Court of Appeals · 1899
- Goldstein v. Brastone Corp.Appellate Division of the Supreme Court of the State of New York · 1938
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