The liability of an indorser to his immediate indorsee arises out of a contract between them, and this contract in no instance consists exclusively in the writing popularly called an indorsement, vhich is necessary to the existence of the contract in question but arises out of the written indorsement itself ;
Citations:
[1855] UKPC 26
Links:
Jurisdiction:
England and Wales
Banking, Contract
Updated: 24 August 2022; Ref: scu.424613
