Question 165. - A note is made out payable to the order of the Bank of Nova Scotia and is endorsed by James Jones. Will not the note hold the endorser the same as if it were made payable to the order of James Jones?

Answer. - If A. B. presents to the Bank of Nova Scotia for discount his note in their favour, and endorsed by James Jones, and the bank discounts it in good faith, James Jones would be liable to the bank. It is, however, an undesirable form of note for a bank to take.