Shaffstall v. McDaniel

Citations

• 152 Pa. 598
• 25 A. 576
• 1893 Pa. LEXIS 1024

Syllabus

<p>[Marked to be reported.]</p> <p>Agreement of suretyship — Indorsement of non-negotiable paper — Effect thereof — Parol evidence to explain.</p> <p>The payee of non-negotiable paper does not become au indorser by writing his name on the back of it. But proof maybe made of the actual agreement under which the indorsement was made. If the agreement was that he should be responsible for its payment, such agreement, if for a sufficient consideration, may be enforced.</p> <p>Extension of time — Delay in enforcing note.</p> <p>Where there is no binding contract for an extension of time with the maker of the note but only a delay of a few days voluntarily granted, a surety upon the note will not be discharged. To accomplish such result the delay must be in pursuance of a valid agreement to extend the time of payment. The same rule applies to a guarantee.</p>