Liebke v. Thomas

Citations

• 116 U.S. 605
• 6 S. Ct. 496
• 29 L. Ed. 744
• 1886 U.S. LEXIS 1804

Syllabus

<p>Notice given to the holder and owner of an accommodation note, under § 17 of the act of June 22, 1874, of composition proceedings in bankruptcy by or against the payee and indorser for whose accommodation the note was given, is notice of the original bankruptcy proceedings to the accommodation maker, and notice that the payee may be discharged thereby.</p> <p>A lawful composition with creditors under § 17 of the act of June 22, 1874, and its performance by the party, has the effect of a discharge in bankruptcy.</p>