This section of the book is from the "Canadian Banking Practice" book, by John T. P. Knight.
Question 433.— The executor of an estate endorses,
" Estate of C. B. by A. D. executor," on renewal of a note
current during the lifetime of the testator. Has he as executor a right to bind the estate in this way?
Answer.—If this were to be regarded as a new contract of endorsement, the executor's authority would depend on the terms of the will, and it would probably be found that he had no authority to bind the estate in this way. Regard-ed, however, as an extension of the obligation created by the testator, we think that it would be held good, and the original liability of the estate would be continued.