Setzer v. Latimer

W. D. Latimer and P. B. Latimer Jr. filed suit on a note against J. E. Duncan as principal and W. T. Setzer as indorser. Duncan filed no answer, but Setzer filed an answer denying liability upon the indorsement, because of an alleged agreement between himself and the plaintiffs, made at the time that the plaintiffs took the note, to the effect that Setzer was not to be bound by his indorsement on the note, but that the indorsement of Setzer, which was already on the note, for stated reasons, prior to its transfer to the plaintiffs, was allowed to remain on the note merely for the purpose of…