Van Norden v. Buckley

Citations

• 5 Cal. 283
• 1855 Cal. LEXIS 111

Syllabus

<p>Whore payment by the maker to the indorser is relied upon as an excuse for want of demand and notice, it must be payment directly and specifically for the note, and not as security for all transactions in the aggregate.</p> <p>Where the maker did not specify that the payment to the inderser was to meet the indorsed note, the indorser had a right to apply it 10 any indebtedness he held against the maker, and to stand upon his strict legal rights, as to demand and notice in regard to the indorsed note.</p>