Williams v. Tishomingo Savings Institution

George, C. J., delivered the opinion of the court. The appellants, having indorsed to the appellee a bill of exchange, to which they claimed title through a forged in-dorsement, now insist that they incurred ño responsibility by their indorsement, except a guaranty that the drawee would pay it on presentation. But the rule is well settled that an indorser warrants the genuineness of the prior indorsements on the bill, and also his title to the paper. Should it be ascertained, even after payment of the bill, that any of the indorsements are forged, the drawee can recover back the amount of the bill from the person to whom he paid it; and so each preceding indorser may recover from the person who indorsed the bill to him. The drawee is bound to know the signature of the drawer, but not of the indorser. The judgment, which is in accordance with these views, is Affirmed.