79 Wis. 86 | Wis. | 1891
This appeal is from an order overruling a demurrer to tbe complaint. Tbe case in all its essential particulars, with a single exception, is like that of Taylor v. Coon, ante, p. 76. Tbe defendant was a signer of tbe •agreement in suit in that action, and tbe present action is upon tbe same agreement. Tbe complaints in tbe two actions, with tbe exception mentioned, and tbe demurrers thereto, are substantially alike, and tbe rulings in that case :are applicable here. Tbe exception above mentioned is that, while in tbe Coon Case tbe complaint alleges that tbe plaintiff was indorser of tbe paper of tbe corporation, and was liable thereon as such when tbe agreement was executed, in this case it is alleged that, after tbe agreement was executed, and on tbe faith of it, plaintiff became liable “ as indorser or otherwise ” on notes made for tbe benefit of tbe corporation to tbe amount of $19,000, which amount .the corporation has bad tbe full benefit of and has failed to pay such notes. It is claimed on behalf of defendant that, as to obligations incurred after tbe execution of tbe agreement, tbe indemnity therein is confined to widorsers of tbe notes of tbe corporation, and tbe averment that plaintiff became liable on its notes as “ indorser or otherwise ” is a defective averment of tbe defendant’s liability. We do not adopt this view. Tbe agreement is that tbe signers thereof will indemnify tbe stockholders then liable upon tbe company’s paper, or who should “ thereafter become so, by in-dorsement or otherwise.” Although tbe words “ or other
By the Court.—The order of the circuit court overruling the demurrer to the complaint is reversed, and the cause remanded, with directions to sustain the demurrer.