L.A. Nat'l Bank v. Wallace

Citations

• 101 Cal. 478
• 36 P. 197

Syllabus

<p>Partnership—Bill Drawn by Partner Upon Firm—Notice of Dishonor—Demand.—In case of a bill drawn by a partner upon the firm or upon a partnership fund in the hands of another partner, notice of dishonor is not required; and if the drawer is a debtor, and the bill so drawn is for his accommodation, failure to make due demand will not release him, but he may recoup for any damage he may have suffered by failure to make a demand.</p> <p>Id.—Recourse of Drawer Against Partnership—Demand and Notice. Where one of three partners has agreed to advance money to pay all bills drawn by another partner upon a third partner, the drawer having recourse against the partner who had agreed to pay the bills so drawn, and the drawer having no other interest in the partnership venture except a contingent interest in its success after the advances were repaid, and not being personally liable to repay them, the drawer cannot be considered as a debtor, and is entitled to demand and notice.</p> <p>Id.—Excuse of Demand—Promise of Drawer Before Maturity.—Where the drawer, three weeks before the maturity of the bills, informs the holder that the drawee could not pay, but that he would pay the bills, such promise not having been made ten days before the maturity of the bills, as provided by section 3156 of the Civil Code, will not excuse presentment to the drawee and notice to the drawer.</p>