Redden v. First National Bank
Supreme Court of Kansas
Redden v. First National Bank, 66 Kan. 747 (Kan. 1903)
71 P. 578
Redden v. First National Bank
Opinion of the Court
A promissory note which has passed into judgment is merged in the judgment and has no life or vitality thereafter. (Price v. Bank, 62 Kan. 735, 64 Pac. 637, 84 Am. St. Rep. 419.) The assignment of such note to one who knew that it had passed into judgment, indorsed “assigned with recourse,” does not make the assignor a guarantor of the payment of the note. The words “with recourse” indorsed on the note, read into the assignment of the judgment, create no liability different from that of an assignor.
The judgment of the court below is affirmed.
Reference
- Full Case Name
- A. L. Redden v. The First National Bank
- Cited By
- 4 cases
- Status
- Published
- Syllabus
- Promissory Note — Assignment after Judgment. The assignment of a promissory note to one who knew that it had passed into judgment, indorsed “assigned with recourse,” does not make the assignor a guarantor of the payment of the note.