Handsaker v. Pedersen

Citations

• 71 Wash. 218
• 128 P. 230
• 1912 Wash. LEXIS 725

Syllabus

<p>Bills and Notes — Execution—Principal Makers — Evidence—• Sufficiency. There is sufficient evidence that notes, signed by the defendants in the left hand corner, after they had been signed by others and indorsed for discount, were executed by defendants as principals and not as sureties, where a bank had refused to discount the notes, and only did so on the strength of the signatures of the defendants, who signed and put up collateral for the purpose of getting the notes discounted. '</p> <p>Alteration of Instruments — Consent to Alteration — Authority of Joint Maker. One of two accommodation indorsers of a note is not the agent of the other for the purpose of procuring its discount with authority to consent to a material alteration, where they were not partners and had no interest in and derived no benefit from the note or its discount.</p> <p>Same — Material Alteration — New Signers. Under Rem. & Bal. Code, § 3515, providing that an alteration that changes the number or the relation of the parties is a material alteration, the addition of new signatures to procure their discount is a material alteration, which discharges an accommodation indorser who had no notice of the alteration.</p> <p>Same — Consent to Alteration- — Effect. An accommodation indorser who assents to the alteration of a note by the addition of new signers is liable on the note for his contributory share thereof.</p> <p>Indemnity — Liability of Indorsers — Oral Promise. An accommodation indorser who orally promised an accommodation signer to pay the note in any event and save such party harmless thereon, is liable on his promise.</p> <p>Evidence — Oral Evidence — To Vary Written Contract. Proof of an oral promise by an accommodation indorser to pay the note and save another harmless is not inadmissible as varying the written obligation.</p> <p>Frauds, Statute of — Debt of Another — Independent Promise. An oral promise by an accommodation indorser to pay the note in any event and save another h