This section is from the book "Canadian Banking Practice", by John T. P. Knight.
Question 460. - A starts business under the name of a company, and is registered as the sole proprietor. Is a bank in advancing the company money for its business afforded any additional security by taking notes made by A and endorsed by the company?
Answer. - It is inferred that the registered company is not a corporation. A's endorsement by himself of the obligation of the company adds nothing to the bank's security. If either A or the company was sued on the notes and judgment obtained, all the property that A possessed, whether in the business or outside of it, would be liable to execution under the judgment.