Leslie v. Compton

Citations

• 103 Kan. 92
• 172 P. 1015
• 1918 Kan. LEXIS 192

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>Promissory Note — Payment Guaranteed without Maker’s Knowledge— Payment by Guarantor — ■Rights of Guarantor — Statute of Limitations. One who guarantees the payment of a note by a contract made with the payee, without the request or knowledge of the maker, and by reason of such guaranty is required to make payment, may thereby acquire a valid claim against the maker for reimbursement; but in such a case his attitude is that of a virtual purchaser of the note, rather than of a surety in the ordinary sense, and if five years elapse after the maturity of the note without the maker recognizing the guaranty, or even being informed of it, the statute of limitations may bar the guarantor’s claim, notwithstanding that action is brought upon it shortly after his payment was made.</p>