Practice, Civil, Exceptions. Bills and Notes. Contract, Consideration. Words, "Appeared."
A statement in a bill of exceptions that certain facts "appeared from the evidence" means that these facts are undisputed or admitted.
Where a bank takes a promissory note from the last indorser thereof, for whose accommodation the maker and a previous indorser have signed it, and surrenders in exchange a previous note then due made and indorsed by the same persons, the fact that the bank knew at the time of the transaction that the maker and the previous indorser became parties to the note for the accommodation of the last indorser does not affect its right to hold them, and between them and the bank there is a good consideration for their agreement, whatever may be the case between them and the last indorser.
SHELDON, J.
All the facts necessary to make out the plaintiff's prima facie case were conceded at the trial. We must construe the statement of the bill of exceptions that these facts "appeared from the evidence" to mean that they were undisputed, or in other words that they were admitted.
That the defendants became parties to the note for the accommodation of Carrie and that this was known to the bank would not affect its right to hold them. As between them and the bank there was ample consideration for their agreement, whatever may have been the case as between them and Carrie. R.L.c. 73, § 46. Lowell v. Bickford, 201 Mass. 543.
The verdict for the plaintiff was rightly ordered. The exceptions are frivolous and must be overruled with double costs and twelve per cent interest.
So ordered.