#### James Croisdale, Appellee, v. D. M. Farson, Appellant.

Gen. No. 22,724.

(Not to be reported in full.)

Appeal from the Superior Court of Cook county; the Hon. Marcus A. Kavanagh, Judge, presiding. Heard in this court at the October term, 1916.

Affirmed.

Opinion filed March 12, 1917.

Rehearing denied March 26, 1917.

Statement of the Case.

Action by James Croisdale, plaintiff, against D. M. Farson, defendant, to recover upon indorsements by the defendant upon certain stock certificates. From a judgment for plaintiff for $3,900, defendant appeals.

Kraft, Kraft & Erskine, for appellant.

James R. Ward, for appellee.

*303Abstract of the Decision.

Guaranty, § 28 * —when guarantor is estopped to claim, that obligation of is discharged. Where the defendant had in writing guaranteed the payment of a dividend on certain stock certificates during the lifetime of the plaintiff, and had paid same semiannually as declared for a period of eight years, held that the parties having so put their own construction on the obligation the defendant could not be heard to contend that such obligation was discharged by the payment of one dividend only, in an action to recover for subsequent unpaid dividends.

*

See Illinois Notes Digest, Vols. XI to XV, and Cumulative Quarterly, same topic and section number.

Mr. Presiding Justice McSurely

delivered the opinion of tile court.