indorser's conditional undertaking
Definitions from Case Law · United States Supreme Court
Definitions from Case Law
From 28 U.S. 87 - George Magruder v. The Union Bank of Georgetown · 1830Most cited · 11 citing opinions
No principle is better settled in commercial transactions, than that the undertaking of the indorser is conditional. If due diligence be used to obtain payment from the maker, without success, and notice of non-payment be given to him in time, his undertaking becomes absolute; not otherwise. Due diligence to obtain payment from the maker, is a condition precedent, on which the liability of the indorser depends.
How often courts cite the case defining “indorser's conditional undertaking”
Court decisions citing the opinion that defined “indorser's conditional undertaking” — 11 in all, by decade. Counts are citations to the defining case as a whole, not verified uses of the term. The dip in the most recent years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the latest years.