Worden v. Salter

Citations

• 90 Ill. 160

Syllabus

<p>1. Instruction—construed in light of the evidence. Every instruction given to a jury must be construed in the light of the evidence on which it is based. ®ÜAR,ANTr—consideration. Where the payee of a promissory note assigns same> au<l guarantees its payment in satisfaction and discharge of his own indebtedness to the assignee, the existence of such indebtedness will be a sufficient consideration to uphold the guaranty.</p> <p>3. Same—time of promise to guaranty. Where the payee of a note, indorsing the same in payment of his own indebtedness, says if the maker does not pay the note, he will, the precise time of the declaration is not important, so that it appears to be a part of the contract then being negotiated, and made before its consummation.</p> <p>4. Same—right to fill blank indorsement with. If the payee of a note, at the time of its indorsement by him in blank, agreed to pay the same if the maker did not, the indorsee will have the right to fill out the indorsement with an assignment and guaranty of payment.</p> <p>5. Same—laches in suing maker. Where a payee of a note indorses the same to another, guarantying its ultimate payment, without any condition that the holder shall sue the maker, or do any other act, the latter will not lose his right of action against the guarantor by neglecting to sue the maker..</p> <p>6. Parol evidence—to show blank indorsement was a guaranty. In this case parol evidence was received to show that an indorsement in blank of a note by the payee included a guaranty of payment by the indorser. The court do not pass upon the competency of such evidence, there being no objection to it on the trial; but Mr. Justice Sheldon, Mr. Chief Justice Craiq and Mr. Justice Dickey concurring with him, dissents from any inference that may be drawn in favor of its competency, holding, in that regard, a distinction between an indorsement in blank by the payee of the note, and the case where one not a party to the note writes his name on the bac