Section 4-58-108 - Liability of assignors upon nonpayment or protest of instrument

All endorsers or assignors of any instrument in writing assignable by law for the payment of money alone, on receiving due notice of the nonpayment or protest of any endorsed or assigned instrument in writing, shall be equally liable with the maker, obligor, or payee of the instrument, and may be sued for the same at the same time with the maker, obligor, or payee thereof, or may be sued separately.Rev. Stat., ch. 11, § 9; C. & M. Dig., § 484; Pope's Dig., § 521; A.S.A. 1947, § 68-811.