Opinion
Gen. No. 40,699. (Abstract of Decision.)
Opinion filed April 2, 1940 Rehearing denied April 23, 1940
NEGOTIABLE INSTRUMENTS, § 134 — presentment and notice of dishonor, accommodated party. Where composition with creditors was being arranged under the Bankruptcy Act, and defendant agreed to form a corporation to take over the assets and execute certain notes to the owner, which he was to endorse, defendant was the party accommodated, so that proof of presentment and notice of dishonor were not necessary, under section 80 of the Negotiable Instruments Law.
See Callaghan's Illinois Digest, same topic and section number.
Appeal from Municipal Court of Chicago; Hon. JOHN V. McCORMICK, presiding.
Heard in second division, first district, this court at April term, 1939.
Harold A. Fein, for appellants;
Edward S. Altersohn, of counsel;
Bernstein, Zolla Bernstein, for appellee;
Arthur J. Bernstein, of counsel.
"Not to be published in full." Opinion filed April 2, 1940; rehearing denied April 23, 1940.