117 F. 226 | 8th Cir. | 1902
after stating the case as above, delivered the opinion of the court.
That the defendant indorsed each of the notes “Pay to the order of P. G. Browning, demand and notice waived, G. W. Franklin,” is admitted by the answer. These indorsements are contracts in writing, made in the transfer of the notes for value. The obligation assumed by the indorser by such indorsement is as certain and free from doubt or ambiguity as if fully set forth in express words, i Dan. Neg. Inst. § 717. As the indorsement waives demand and notice, the agreement of the indorser is that he will pay the notes to the indorsee or holder if they are not paid by the maker at maturity. The defense pleaded seeks to change and make different this obligation of defendant under his written indorsement by alleging a contemporaneous “understanding' and agreement,” to the effect that the defendant should not be liable upon his indorsements unless plaintiff had diligently protected
The judgment is affirmed.
4. See Bills and Notes, vol. 7, Cent. Dig.' § 691.