First National Bank v. Babcock

Citations

• 94 Cal. 96
• 29 P. 415
• 1892 Cal. LEXIS 646

Syllabus

<p>Non-negotiable Note — Indorsement by Third Person — Guaranty — Demand and Notice — Effect of Delay. •—One who writes his name upon the back of a non-negotiable promissory note to give it credit is a guarantor, and is liable prima facie for the payment of the note upon default of the principal, without any previous demand or notice, and no mere delay of the payee to proceed against the principal, or to enforce any other remedy, will exonerate him from the payment of the note as such guarantor.</p> <p>Id.—Note Payable to Order—Stipulation for Attorney’s Fee.— A promissory note containing a stipulation for the payment of an attorney’s fee in case suit is commenced to enforce its payment is a nonnegotiable instrument, though payable to the order of the payee.</p>