National Bank v. Dickinson

The opinion of the court was delivered by

West, J.:

The defendants appeal from a judgment rendered against them on a promissory note taken by the plaintiff for value before maturity in due course, the complaint being that it was nonnegotiable and subject in the hands of the plaintiff to the defense of failure of consideration.

The only question is the negotiability of the note, and this depends upon the proper construction of the following provision thereof:

“We, the makers, sureties, endorsers and guarantors of this note, hereby severally waive presentment for payment, notice of nonpayment,…