Citations
- 113 S.W.2d 620
Full opinion text
LESLIE, Chief Justice.
The W. T. Rawleigh Company instituted this suit against Henry Smith, H. F. Wilson, and J. E. Izard to recover on a promissory note for $828, etc. Defendants entered general denial, plea of. no consideration, and that the note was signed and delivered upon an unfulfilled condition which prevented its becoming a legal liability.
The trial, before the court without a jury, resulted in a judgment in favor of plaintiff against Henry Smith, principal on the note, but denied recovery against Wilson and Izard', the purported sureties. The plaintiff appeals. The court filed findings of fact and conclusions of law. In different respects these are challenged.
The obligation represented- by the note arose by reason of a line of--credit extended by the company to Henry Smith, the local distributing agent of its products. At first' the company exacted' a bond for its protection, and the same was executed by said Smith as principal, and J. E. Izard, H. F. Wilson, and W. C. Montgomery as sureties. Smith’s accounts being in arrears, the company demanded in settlement thereof a note to be signed by Smith and said Izard, Wilson, and Montgomery .as sureties.
It was the intention of the company as well as Izard and Wilson that Montgomery execute the note. The Rawleigh Company, was represented in the transaction by their agent, Sam House. He presented the note in suit to Izard and Wilson, who, according to their pleadings and testimony, signed the same upon the condition or understanding it be signed by Montgomery before its acceptance by the’.£