Spragins v. McCaleb

FOSTER, Justice.

This is a suit in equity for contribution as it is there called by qne indorser against others jointly bound by irregular indorsement on a note given by a corporation, in which all the indorsers were interested. It has the anomalous condition of being payable to one of the indorsers who loaned the money to the máker which was a corporation, of which he was president, on a note signed by the corporation acting by him as president and indorsed by him individually and by eleven others interested in the corporation. The note is payable “on demand after date,” ahd “with interest at…