Garden City National Bank v. Schulman

Citations

• 89 Kan. 182
• 131 P. 559
• 1913 Kan. LEXIS 38

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. Promissory Note — Guaranty in Name of Partnership — Presumptions. In an action upon a written guaranty in the name of a trading partnership indorsed on the back of the promissory note of a third person, it will be presumed, until proof to the contrary is produced, that the guaranty was made in the course of the firm’s business.</p> <p>2. - Guaranty — Subsequent Ratification. The subsequent ratification by one partner of the unauthorized act of his co-partner in guaranteeing in the firm name payment of a note of a third person is equivalent to antecedent authority.</p>