Indorser
A Law Dictionary, Adapted to the Constitution and Laws of the United States · John Bouvier · 1839
A Law Dictionary, Adapted to the Constitution and Laws of the United States
contracts, is_ the person who makes an indorsement. The indorser of a bill of exchange or other negotiable paper by. his indorsement undertakes to be responsible to the holder for the amount of the bill or note if the latter shall make a legal demand from the payer, and, in default of payment give proper notice thereof to the indorser. But the indorser may make his indorsement conditional, which will operate as a transfer of the bill, if the condition be performed; or he may make it qualified, so that he shall not be responsible on non-payment by the payer.
Chitty on Bills, 179,180.
To make an indorser liable on his indorsement, the instrument must be commercial paper, for the indorsement of a bond or single bill will not, per se, create a responsibility.
13 Serg. & Rawle, 311. —