Pauly v. Murray

Citations

• 110 Cal. 13
• 42 P. 313
• 1895 Cal. LEXIS 1009

Syllabus

<p>Promissory Note—Signature op Surety apter Loan op Money—Consideration. — Where the payee of a note parts with his money or the faith of a promise by the borrower that he will procure the signature of a surety to the note, the surety is bound, although he does not sign the note until the money is advanced.</p> <p>Id.—Surrender op Joint Note—Consideration por Individual Note. Where there is a sufficient consideration for a joint note signed by one ■ of the makers as a surety, the surrender thereof to the surety is a sufficient consideration for the individual note of the surety to the payee.</p>