Endorser

Definition and stakes

Portrait of Samuel J. Tilden Samuel J. Tilden,  Letters and Literary Memorials of Samuel J. Tilden…

“ TILDEN TO——
"New York, Dec. 28, '55.
"My dear Sir,—Your letter in answer to mine in respect to your debt to the Bk. N. A., on which I am endorser, came to hand. It was not what I supposed from your previous assurances I had a right to expect, nor what seems to me just. Whether it be even wise for yourself, I will not undertake to judge.
"An endorsement made for a man's accommodation is called confidential, because it is supposed to impart a very high and sacred obligation to protect the friend who incurs such a liability in your behalf and for your benefit.
”
Source: Gutenberg

Portrait of Joseph Story Joseph Story,  McLemore v. Powell — Opinion of the Court

“ It is unnecessary to give any opinion upon that part of the charge which respects the right of an endorser to require the holder to commence a suit against the drawer. In general, the endorser, by paying the bill, has a complete power to reinstate himself in the possession and ownership of the bill, and thus to entitle himself to a personal remedy on the instrument against all antecedent parties. ”
Source: Wikisource

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