Question 160. - A bank discounts a promissory note for its customers, Brown Brothers, drawn by J. Smith, to their order. Brown Brothers have apparently insisted upon an endorser to the note before accepting the same from Smith, as the note bears an endorsement "F. Gale," which appears above that of Brown Brothers. Should the bank discounting the note insist upon the payees' endorsement appearing above that of Gale, and, in the event of their not doing so, what is the position of the respective parties should the note be dishonoured at maturity?

Answer. - All the parties on the note are liable to the bank, so the bank has no interest in changing the order of endorsements.