Niblack v. Champeny

Citations

• 10 S.D. 165
• 72 N.W. 402
• 1897 S.D. LEXIS 32

Syllabus

<p>1. The indorsement, “Int. paid, and extended 60 days, — consent of both parties,” placed on a note by the maker, pursuant to an agreement by the payee to extend the time of payment, is a written extension, and presumptive evidence of a consideration therefor.</p> <p>2. An agreement made by the payee of a note with the maker, on the day it matures, but without the knowledge or consent of the surety, to extend time of payment in consideration of usurious interest for the period of extension, which is paid in advance, is valid, and discharges the surety.</p>