This section is from the book "The Law Of Contracts", by William Herbert Page. Also available from Amazon: Commercial Contracts: A Practical Guide to Deals, Contracts, Agreements and Promises.
The wording of the clause in which the promise is made must be considered in determining the nature of the liability imposed. A note beginning "We, the trustees of Musconetcong Grange, No. 114, known as W. Fleming & Co.," promise, and signed with the word "Trustees" and the individual names of the trustees, imposes a personal liability on the trustees.1
8 McCandless v. Canning Co., 78 Ia. 161; 16 Am. St. Hep. 429; 4 L. R. A. 396; 42 N. W. 635.
1 Falk v. Moebs, 127 U. S. 597; Bean v. Pioneer Mining Co., 66 Cal. 451; 56 Am. Rep. 106; 6 Pac. 86; Scanlon v. Keith, 102 111. 634; 40 Am. Rep. 624; Gillet v. Bank, 7 111. App. 499; Gleason v. Milk Supply Co., 93 Me. 544; 74 Am. St. Rep. 370; 45 Atl. 825; Castle v. Foundry-Co., 72 Me. 167; Atkins v. Brown. 59 Me. 90; Draper v. Heating Co., 5 All. (Mass.) 338; Reeve v. Bank. 54 N. J. L. 208; 33 Am. St. Rep.
675; 16 L. R. A. 143; 23 Atl. 853; Latham v. Flour Mills, 68 Tex. 127; 3 S. W. 462; Leibscher v. Kraus, 74 Wis. 387; 17 Am. St. Rep. 171; 5 L. R. A. 496; 43 N. W. 166.
2 Mathews v. Mattress Co., 87 Ia. 246; 19 L. R. A. 676; 54 N. W. 225; Heffner v. Brownell, 70 Ia. 591; 31 N. W. 947; 75 Ia. 341; 39 N. W. 640. The earlier case of Wheelock v. Wilson, 15 Ia. 464, is overruled.
1 Vliet v. Simanton. 63 N. J. L. 458: 43 Atl. 738; and see Hypes v. Griffin, 89 111. 134; 31 Am. Rep. 71;
So a note beginning "The directors promise"and signed by the directors, imposes personal liability.2 A note beginning "we promise" "for the Boston Glass Manufactory" and signed by A, B, and C, individually, was held to be the individual note of A, B, and C.3 So an instrument which, in the body thereof purports to be executed by A "for the National Umbrella Company,"4 or by A "of the X Company,"5 imposes in each case a personal liability on A. Similar phraseology is held in other cases not to impose personal liability. Thus a note beginning "The Howard County Agricultural Association who execute this note by her directors" "do promise" and signed "A, Secretary; B, C, directors Howard County Agricultural Association," does not impose personal liability.6 Under the Maine statute a note beginning "We, the subscribers for" a certain corporation, signed by the individual names of the makers, imposes liability in the corporation, and not on the individuals signing.7 An acceptance, written on a letter bearing the corporation letter head, and signed by an agent individually, written in reply to a proposition addressed to the corporation, binds the corporation.8
 
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