Indorser's undertaking
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 8 U.S. 237 - Woods Bemis v. Young · 1808Most cited · 20 citing opinions
Notice of non-payment by the maker is necessary, because the undertaking of the indorser is conditional, and wherever, in fact, the transaction is such that the maker of the note ought in justice to pay it, and is bound ultimately to make it good, it would seem reasonable that payment should be demanded from him, and that reasonable notice of non-payment should be given to the indorser.