BILLS AND NOTES-ALTERATION BY COLLATERAL WRITTEN AGREEMENT

Authors

Abstract

Defendant was accommodation indorser on two of four notes executed at the same time with different maturity dates. As part of the same transaction, but unknown to the defendant, the maker, two other indorsers, and the payee, plaintiff in the cause, entered into an agreement in writing whereby the maturity of the unpaid notes would be accelerated on default as to any due. Held, in, an action on the notes, that instruments simultaneously executed and referring to the same subject matter are to be construed together, and the effect of such integration here was to bring about an alteration of the notes the defendant had signed, whereby he was discharged. Manufacturers' Trust Co. v. Steinhardt, (N. Y. I934) 191 N. E. 867.

Recommended Citation

BILLS AND NOTES-ALTERATION BY COLLATERAL WRITTEN AGREEMENT, 33 Mich. L. Rev. 950 (1935).
Available at: https://repository.law.umich.edu/mlr/vol33/iss6/9