Citizens' Bank of Los Angeles v. Jones

Citations

• 121 Cal. 30
• 53 P. 354
• 1898 Cal. LEXIS 847

Syllabus

<p>Appeal—Review of Evidence—Substantial Conflict—Specifications.— Where the evidence upon an issue is substantially conflicting, the finding of the court will not be disturbed upon appeal; nor can the sufficiency of the evidence to sustain a finding be reviewed upon appeal, where there is no specification attacking such finding.</p> <p>Negotiable Paper—Liability of Indorser—Parol Evidence.—The contract between the indorser and indorsee of a negotiable instrument is a written one, which merges ail oral negotiations, and cannot be varied or changed by parol evidence of a verbal promise or agreement made at the time of or previous to the indorsement; nor can it be varied by proof of any subsequent oral promise' made without consideration.</p> <p>Id.—Certificate of Deposit—Term of Credit—Option of Holder—Oral Aqreement with Indorser.—A certificate of deposit in a bank which was by its terms payable to order within twelve months from its date, with interest, or within six months thereafter if desired, did not mature until the expiration of the twelve months’ period, and the option for payment at the end of six months was solely for the benefit of the payee, to be availed of at his election, which. privilege, the instrument being negotiable, passed to the indorsee; and, in an action by the indorsee against the indorser, brought upon demand and notice at the expiration of the twelve months’ period, parol evidence is inadmissible to show that it was orally agreed between the indorser and indorsee that demand should be made at the end of the six months’ period, and that if it had been so made, it would have been promptly paid by the bank. Such evidence is equally inadmissible, whether the oral promise of the indorsee was made before or after the indorsement of the certificate.</p>