Hatch v. Antrim

Citations

• 51 Ill. 106

Syllabus

<p>Guaranty—what constitutes. Where a merchant sells goods to another, upon an arrangement that a third party is to collect the account and pay the same to the merchant,-for which, as collector, he is to receive a commission of ten per cent., and such third party is furnished with duplicate bills of account, which are made out in the name of the purchaser, and across the face of the bills retained by the merchant, such third party writes the word “ accepted,” to which he affixes his signature, in an action by the merchant, against him, for the amount of the bills so accepted, and remaining unpaid; it was held, that the credit so given was given to the purchaser, and that the word “accepted,” written on an account, does not import a guaranty of its payment by the person malting the indorsement, and that under such an agreement he could only be held to reasonable care and diligence in the performance of the undertaking, and not liable as guarantor.</p>