This section of the book is from the "Canadian Banking Practice" book, by John T. P. Knight.
Question 453.— Is it necessary to protest a note drawn in favour of a bank by joint and several promissors, one of whom is really a surety for the other; is he not in effect an endorser ?
Answer.—It is not necessary to protest such a note. The contract of the makers of a note is to pay the note without any conditions, and it is their duty to find it and pay it. If a party promises to pay who is in fact a surety, his obligation is that of maker, so far as notice is concerned, but in other respects he is entitled to the rights of a surety; e.g., he might be discharged by any improper dealing with securities.