A general example will best illustrate this term: The laws of many States stipulate that savings banks shall not loan money to an individual, firm, or corporation, without collateral or mortgage security, unless the borrower shall furnish the indorsement of a certain number of persons upon the note, the intent of such laws being, that in case the original maker of the note is not for any reason able to meet its payment, the bank may demand payment of the indorsera Of course, the spirit of such laws contemplates each indorser having sufficient financial means to make such payment; in other words, that, for the amount of the debt, he is just as good as the maker. The spirit is continually being broken by banks being willing to accept as indorsers the signatures of persons absolutely incapable of paying the obligation. Cases are not at all infrequent of notes for large amounts bearing the indorsements of clerks or office boys, with no means whatsoever. The letter of the law is complied with, but such indorsers are known as "straw names/' having no value or stability.