Willard State Bank v. Clark

Citations

• 111 Kan. 439
• 208 P. 549
• 1922 Kan. LEXIS 270

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. Promissory Note — Transferred Without Endorsement — Transferrer Entitled to Notice of Dishonor Same as Endorser. Where the transferee of a negotiable note seeks to hold fhe payee and transferrer of the instrument as an endorser of it although he did not in fact endorse it, on the statutory ground that the transferee is entitled “to the right to have the endorsement of the transferrer,” it is a statutory prerequisite to the perfection of the transferrer’s liability as such endorser that presentment for payment must be made to the maker on the date when the note is due, and that prompt notice of its dishonor be given to the endorser; and a letter from the transferee to the transferrer written two months and eleven days after such maturity of the note, telling him of the maker’s default, and asking whether the consideration for the note was returned to the maker, with a conditional request to remit, was not a notice in conformity with the statute, and the transferer is not liable.</p> <p>2. Same — New Trial Properly Denied. Matters presented on motion for a new trial considered, and held that no error in overruling such motion can be based thereon.</p>