Guy v. Bibend

Citations

• 41 Cal. 322

Syllabus

<p>Defense in Suit on Note.—The fact that, contemporaneously with a promissory note, a parol agreement was made, that the note should be payable only out of the surplus arising from the sale of goods assigned to the payor, as security for a debt due him, it appearing no such surplus has arisen, is no defense in a suit on the note.</p> <p>Cokbidbkatioit eob Note.—A promise by A. to B. to give B. further time to pay a debt he owes to A. is a good consideration for a promissory note, given by 0. to A., for the amount of B.'s debt to him.</p>