Shaver v. Ocean Mining Co.

Citations

• 21 Cal. 45

Syllabus

<p>Ah agent signing Ms own name to a promissory note made on behalf of his principal is not personally liable as a maker if the instrument itself discloses the intention to bind 1ns principal and not himself.</p> <p>James Harter and S. ÍL Stranahan were sued as joint makers with the Ocean Mining Company of a note, set forth in the complaint, in the following form: “ Three months after date the Ocean Mining Company promise to pay to W. G-. Bright or order one thousand dollars, for value received, with interest at the rate of two per cent, per month. (Signed.) James Harter, Trustee, S. ÍT. Stranahan.” Judgment by default was rendered against the company and H. and S.: Held, that this judgment was erroneous; that the instrument itself showed the intention of H. and S. to bind the company and not themselves, and that they were not personally liable.</p> <p>Held, further, that the presumption as to the character in which H. and S. signed the note, created by the form of the instrument, was not destroyed by an allegation in the complaint that they executed as makers.</p> <p>Haskell v. Cornish (13 CaL 45) affirmed.</p>