Legal Adjustment Bureau v. West Coast Construction Co.

This action was brought by the Legal Adjustment Bureau, a corporation, to recover the balance due on an interest-bearing promissory note in the principal sum of $26,300.40, made and delivered to the Scandinavian American Bank of Seattle by the West Coast Construction Company, Hans Pederson and John Ottesen. The two last named makers, though signing in the form of indorsers, bound themselves as principals. The note became due by its terms on June 11, 1921. The hank failed on June 30, 1921, and, in the course of liquidating the affairs of the bank, the receiver sold the note to one who assigned…