37 Ala. 407 | Ala. | 1861
The appellant was endorser on a promissory note payable in bank. His liability is to be determined by the commercial law. — Code, §§ 1525-2G. On the last day of grace, at the maturity of the note, the appellant signed the following endorsement on the back of said note : “ I waive protest on the within note.” (Signed) “ William Fisher.” The question is, does this waiver fix the liability of the endorser ?
Under our statutes, notaries public are empowered to protest such papers as this (Code, § S57).; -and their official certificates are legal evidence of demand, protest and notice, so as to charge the endorser. — Pamph. Acts, 1853-4, p. 37. Technically considered, a waiver of protest is not a waiver of demand and notice. But we.think this language must not be understood in its technical sense. The term, in its popular significance, rather “ includes all those acts which are necessary to charge an endorser.” Giving it this construction, we accord operation and effect to the act of the parties; whereas, if we confined-them to the limited meaning of the phrase, the . endorsement could have no effect whatever. The endorsement was placed on the Kioto on the last day of grace; and it would imply marvel-
The rulings of the circuit court are consistent .with our. views.above expressed, and the judgment is affirmed.
