Franklin v. Browning

Citations

• 117 F. 226
• 54 C.C.A. 258
• 1902 U.S. App. LEXIS 4429

Syllabus

<p>1. Notes—Indorsement—Effect.</p> <p>A note indorsed “Pay to the order of B., demand, and notice waived,” is an undertaking on the part of the indorser that he will pay the note to the holder at maturity if not paid by the maker.</p> <p>2. Pleading—Phrases—Understanding and Agreement.</p> <p>The phrase “understanding and agreement” in a pleading imports an oral agreement</p> <p>8. Notes—Indorsement—Parol Evidence.</p> <p>Parol evidence of an oral agreement, alleged to have been made at the time of the drawing, making, or indorsing of a bill or note, cannot be permitted to vary, qualify, or contradict, or add to, or subtract from, the absolute terms of the written contract</p> <p>4. Same—Rights of Holder—Security.</p> <p>Though a note in terms gives a lien on cattle, there is no duty on an indorsee to follow the cattle; his right against the indorser being absolute.</p> <p>5. Same—Construction—Lien.</p> <p>A note read: “I promise to pay * * * for wintering cattle branded N. S. Cattle wintered by P. to stand good for payment of this note, and is to be paid from first shipment of cattle.” Held that, no cattle being described, so as to be capable of identification, no authority being given to take possession of cattle, but there being merely an agreement to pay from a certain fund, no lien was conferred by the note.</p>