Retained.

Question 448.— Would an insolvent's estate be discharged if a bank renewed a bill endorsed by the insolvent, taking the maker's own note and retaining and attaching thereto the original bill?

Answer.—The endorser would not be discharged under the circumstances mentioned in your question provided there was an understanding that the endorser's liability was to be reserved; the retention of the original bill indicates that there was such an understanding.