CAMPBELL v. LEACH

An endorsement stating that the endorser will be liable in case the maker proves insolvent will not make liable upon proof that the maker has gone to prison and given security for the bounds.

(234) TAYLOR, J.

The endorsed bond was substituted for that portion of the original debt the amount whereof it represents. Leach cannot be made liable but upon the terms of the endorsement; that is to say, not unless it be established that Ellison was insolvent. A loss of the debt for any other cause will not subject him.