Dench & Hardy Co. v. John J. Hanson, Inc.

The appellant, the second indorser on a promissory note, brought this action against the respondent corporation, the first indorser, to recover the amount paid the holder when the note was protested upon the default of the maker. At the time the note was delivered to the appellant by the maker it had thereon the indorsement of the corporate respondent. Thereafter it was indorsed by the appellant and discounted with the Atlantic National Bank of Boston. The answer of the respondent alleged that at the time the appellant received and indorsed the note it had knowledge that the respondent’s…