Paul v. Berry

Citations

• 78 Ill. 158

Syllabus

<p>1. Principad and surety—no presumption as to semral signing note. Where several persons execute a promissory note, there will be no presumption that the first signer, or any other number less than the whole, is or are principal or principals, and the others co-sureties, but the fact rests in evidence aliunde to determine the relation they sustain towards each other.</p> <p>2. Same—when held principal by ratification. Where a father executes a promissory note, and signs his son’s name thereto as principal, and procures others to sign as sureties, and the son afterwards ratifies the act by suffering judgment to go against him on the note, with full knowledge that it is claimed he is principal, he can not maintain a suit against the sureties for contribution.</p> <p>3. Sureties—contribution. Where it is established by proof that two or more persons are co-sureties, and one of them pays the debt for which they are liable, he may have contribution from the others to the extent they are thereby relieved.</p> <p>4. It is also well settled, that co-sureties may, by agreement among themselves, so far sever their unity of interest and obligation, as to terminate the right of contribution.</p> <p>5. Promissory note—ratifying execution. Where a person’s name is signed to a promissory note without his authority, he may ratify its execution and acknowledge its binding validity upon him, and when this is done, his relation to the note will be precisely the same as if he had executed it personally.</p> <p>6. Evidence—declarations as res gestm. If a father, executing a note, signs his son’s name, and procures others to become sureties, what he says to the sureties at the time of their signing, as to the son being a principal with him, is competent evidence, as a part of the res gestee, where the son afterwards ratifies the execution of the note. By such ratification, with a knowledge of the facts, the son makes the acts and declarations of the father his own.</p>