In re Wm. H. Blumer & Co.
13 F. 622 | E.D. Pa. | 1882
This exception must be dismissed. Mr. Line’s indorsement on the certificate was without any legal effect. It was in terms a guaranty of his own debt. As a member of the firm which issued the certificate, he was liable to be called upon individually to pay it, and his guaranty was therefore unmeaning. The creditor obtained no additional obligation whatever, and has no right to participate in the distribution of the debtor’s individual estate at this time.
