Burgettstown National Bank v. Nill

Citations

• 213 Pa. 456
• 63 A. 186
• 1906 Pa. LEXIS 505

Syllabus

<p>Promissory notes — Accommodation indorser — protest—Waiver of protest— Consideration.</p> <p>' Where the indorser on a promissory note, eighteen months after its maturity, with knowledge that no demand for the payment of it had been made, and no notice of its dishonor had been given, without any new consideration, indorses on the note a waiver of protest, he will be bound by the waiver, and liable on the note.</p> <p>From the nature of an indorser’s contract a new consideration is not required to support a waiver of protest before or after the maturity of the paper.</p> <p>Affidavit of defense — Practice, C. P. — Fraud—Promissory notes — Waiver of protest — Indorser.</p> <p>Where the indorser on a promissory note seeks to avoid the effect of a waiver of protest signed by himself, on the ground that certain misrepresentations were made to him at the time he signed the waiver, he must go further and avor in his affidavit of defense that he was induced to sign the waiver by such misrepresentations.</p>