Where part of a note is received of the drawer, the indorsor is not to be resorted to for the rest.
In an action by the indorsee of a promissory note against the indorsor, it appeared the plaintiff had after the indorsement received part of the drawer of the note : and it was held to be a taking upon himself to give the whole credit to the drawer of the note, and absolutely discharged the indorsor. So the plaintiff was nonsuit.
Citations:
[1795] EngR 2268, (1795) 2 Str 745, (1795) 93 ER 822 (B)
Links:
Banking
Updated: 05 May 2022; Ref: scu.354613