Farmers' Bank v. Gilpin

Citations

• 1 Del. Ch. 409

Syllabus

<p>The indorser of a promissory note, though fixed in his liability by protest, is not entitled, as a creditor, to a share of the estate of the maker under an assignment for the benefit of creditors.</p> <p>Such an indorser is entitled only to be reimbursed payments actually made by him.</p> <p>The holder of the note can claim, under the equity of the indorser, out of the assigned estate, only to the amount of payments so made by the indorser.</p>