Latham v. Houston Flour Mills

Citations

• 68 Tex. 127
• 3 S.W. 462
• 1887 Tex. LEXIS 652

Syllabus

<p>1. Promissory Note—Sis nature oe Maker.—The president of a corporation who signs the corporate name to a promissory note, and his own name, with the word “President” following, and without inserting the word “by” between the corporate name and his own, does not thereby render himself individually liable as one of the makers thereof.</p> <p>2. Same.—A note was thus signed in which the word “we” was used preceding the word “promise” in the bodyof the note, which, by its terms, was made payable “at our office,” held:</p> <p>(1) The presumption must prevail that the office referred to was the office of the corporation.</p> <p>(3) That the' president referred to the corporation as a thing to be spoken of, not in the singular but the plural number.</p> <p>3. Same—Indorsement.—On the back of a note thus executed, and above the indorsement of the name of the payee, were written the names of other parties, held:</p> <p>(1) In the absence of any evidence except that afforded by an inspection of the note, such indorsers would be deemed original promissors or sureties.</p> <p>(3) The real character of the obligation intended to be assumed by such indorsement maybe shown by parol evidence.</p> <p>(3) The note being the individual contract of the corporation, was not changed by the indorsement into a joint contract of the indorsers and the corporation.</p> <p>4. Same.—The intention of the indorsers being to make themselves severally as well as jointly bound with the principal, the death of one indorser did not relieve his estate from liability.</p>