Stricklin v. Cunningham

Citations

• 58 Ill. 293

Syllabus

<p>Assignee—su/rety executing a note on conditions. A claim being placed in the hands of an attorney for collection, the debtor proposed to borrow the money to pay the same, from a third person, and accordingly executed a note pa)rahle to the latter, with another as surety, such surety, however, signing the note upon the express condition that the principal maker should procure the note to he signed also by a certain other person as co-surety. This condition Was never performed, but the note as thus executed was placed in the hands of the attorney, who retained it until after its maturity, when the payee indorsed it to him to enable him to sue thereon in his own name. In an action on the note by such assignee, it was held, the surety could avail of the non-performance of the condition upon which he signed the note, as a defense, even though the plaintiff did not know of such condition, he not being an innocent holder for a valuable consideration.</p>