endorser's undertaking
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 24 U.S. 171 - The President Directors and Company of the Bank of the United States v. Smith · 1826Most cited · 74 citing opinions
He is not the original and real debtor, but only surety. His undertaking is not general, like that of the maker, but conditional, that if, upon due diligence having been used against the maker, payment is not received, then the endorser becomes liable to pay. This due diligence is a condition precedent, and an indispensable part of the plaintiffs' title, and right of recovery, against the endorser.