Guarantee Loan & Trust Co. v. Galliher

The opinion of the court was delivered by

Scott, J.

This action, as against appellant, was

brought to recover the balance due upon a promissory note which had been executed to him by a third party and negotiated by him to the respondent, after its maturity, he at the time indorsing the same in blank. No effort was made by the respondent to collect the note until nearly a year and a half had elapsed after its purchase. Appellant’s defense to the note, as indicated by his brief, is that under the transfer and guaranty, the respondent was bound to proceed within a reasonable time to collect the…