Trustees of Schools v. Rautenberg

Citations

• 88 Ill. 219

Syllabus

<p>1. Contract—note—whether of corporation or persons signing. A promissory note, commencing, “ninety days after date I promise to pay to,” etc., and signed A B and 0 D, “school trustees,” is the individual note of the persons signing the same, the words “ school trustees ” being simply descriptio person-arum, and is not the note of any school corporation.* </p> <p>2. School trustees—giving note after term of office expires. Quere, whether school trustees can give a promissory note binding upon the corporation, for money borrowed by them to build a school house, after their term of office has expired, and their successors elected and qualified.</p> <p>3. Indorser—of his liability and remedy. Where a promissory note is made to a third person, having no interest in the same, and his indorsement is procured, and the note then given to a bank, as security for a prior loan to the makers, the indorser will charge himself as security for the makers, and must look to them if he is compelled to take up the note. If the makers have expended the money for a school district, that is a matter between them and the district, and the indorser can not sue the district, there being no privity of contract between him and the district.</p>