Morrison v. First National Bank of Taos

OPINION OF THE COURT

RAYNOLDS, C. J.

Appellant Morrison, as maker and endorser, was indebted to the First National Bank of Taos in the sum of $9,324.20 on four promissory notes. One Fortner was the maker of three of these notes and indorser on the fourth, which was signed by Morrison as maker. When the notes became due, payment was demanded by the bank, and an arrangement was entered into by the parties by which Morrison understood that on giving two new notes for $3,000 each he was to be released from his liability. The negotiations were carried on by Fortner and a representative of the bank.…