...due course, and sued the maker. The Uniform Negotiable Instruments Law, section 121, provides that, "where the instrument is paid by a party secondarily...to his former rights as regards all prior parties." Held, that the plaintiff can recover on the note, and that section 121 of the Uniform Negotiable Instruments...

...(Consol. Laws, c. 38) it is provided that, with certain exceptions which are not pertinent to this case, where the instrument is paid by a party secondarily...subsequent indorsements and again negotiate the instrument. Here the drawer and indorser, a party secondarily liable, after payment of the amount of the acceptance...

...averred in the complaint. It is provided by the Negotiable Instruments Law (Laws of 1897, chap. 612) that where the instrument is paid by a. party secondarily liable thereon, it is not discharged (§ 202), and in other sections of the act it is provided how and when such instruments are discharged....

...is paid by a instrument not party secondarily liable thereon it is not discharged ; but wnenapffddbv the party so paying it is remitted to his former rights...indorsements, and . again negotiate the instrument, except : 27 2. Where it was made or accepted for accommodation, and has been paid by the party accommodated....

...recourse against such party is expressly reserved. Sec. 121. Paid by Party Secondarily Liable, Effect of. Where the instrument is paid by a party secondarily...indorsements, and again negotiate the instrument, except: I. Where it is payable to the order of a third person, and has been paid by the drawer; and II. Where...

...secondarily liable, or unless the right of recourse against such party is expressly reserved. SEC. 121. Where the instrument is paid by a party secondarily...regards all prior parties, and he may strike out his own arid all subsequent endorsements, and again negotiate the instrument, except— 1. Where it is payable...

...when paid by , . , , . , , , ... sacondary paid by a party secondarily liable thereon, it is party. not discharged; but the party so paying it is remitted...indorsements, and again negotiate the instrument, except : 2. Where it was made or accepted for accommodation, and has been paid by the party accommodated....

...course,' or according to the law merchant. Such action is 1 The Statute notices the distinction thus : ' Where the instrument is paid by a party secondarily...to his former rights as regards all prior parties," eto. NIL § 128. See Hartzell v. McClurg, 54 Neb. 316 ; Chappell v. MeKeough, 21 Col. 275 ; Dodge v....

...recourse against such party is expressly reserved. Section 121. Where the instrument is paid by a partv secondarily liable thereon it is not discharged; but...party so paying it is remitted to his former rights aa regards all prior parties, and he may strike out his own and all subsequent indorsements, and again...

...case where a party secondarily liable pays the instrument, except in the case where the instrument is payable to the order of a third person, and has been paid by the drawer; and where made or accepted for accommodation, and has been paid by the party accommodated. (Sec. 202.)...