Pray
First National Bank of Parks Rapids v. Pray
Opinion
lead Opinion
Parker, J.
P laintiff brought this action to recover from defendant upon a written contract of guaranty, as will more fully appear hereinafter. In the court below judgment went for defendant, and thereafter a motion for a new trial interposed by plaintiff was denied. Plaintiff appeals.
The only question before us relates to the application of section 360 of the Code of Civil Procedure, which provides that no acknowledgment or promise is sufficient evidence of a new or continuing contract, by which to take the case out of the operation of the statute of limitations, unless the acknowledgment or promise is contained in some writing signed by the party to be charged thereby. The facts follow: At Park Rapids, in the state of Minnesota, on the twenty-second day of March, 1915, the White Stores Company made, executed, and delivered to plaintiff its promissory note in writing, which said note was in the usual form, containing a waiver by all signers and indorsers of demand, notice of nonpayment, and protest. The note was signed “The White Stores Company, by J. Shere, Pres, and By R. F. Pray, Secretary. ’ ’ Indorsed on this note is as follows: “For value received I guarantee the payment of the…