Citizens Bank v. Bowdon

Citations

• 98 Kan. 140
• 157 P. 429
• 1916 Kan. LEXIS 31

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. PROMISSORY Note — Joint Makers — Interest Paid in Advance — Extension — Comaker Not Released. Under the provisions of the uniform negotiable instruments act, one who signs a note as comaker, although in fact a surety, is not released by an extension of time granted to the principal in consideration of the payment of interest in advance.</p> <p>2. Same. Irrespective of the statute, the release of the surety is prevented in such a case by an agreement, incorporated in the note, that upon the payment of interest by one of the makers time of payment might be extended without notice to the other.</p> <p>3. Same — Joint Makers — One a Surety — Form of Judgment. The mere fact that in an action upon a note one of the makers pleads surety-ship as a basis for a defense, founded on an extension granted to the principal, does not require the court, after sustaining a demurrer to the plea, to make a finding that such party is a surety, for the purpose of preserving his rights as against the principal.</p>