BLAKE v. WEIDEN291 N.Y. 134OCTOBER 21, 1943FACTS:R. Weiden Sons, Inc., became a voluntary bankrupt and Blake qualified as its trustee.There was a balance of !,"#$.%! owin& to it on open account from Weiden who was one of itsstockholders and had been one of its officers from "'$# to "'$!. Blake sued Weiden so the latterfiledcounterclaimswhichincludedfivene&otiablepromissorynotes, eachfor(,###, whichremained unpaid, and each &iven by the corporation to the defendant)s father, Robert Weiden,who died in "'$*. +t some time between the father)s death and the bankruptcy, the defendant)s two brothers,,harles R. Weiden and -ermann .. Weiden, who were the e/ecutors of the father)s will, put onthebackofeachofthenotesaformofindorsement, si&nedbytheestate, bythemselvesase/ecutors, and worded thus0 12ay to the order of ,harles R. Weiden, -ermann .. Weiden and3rank.. Weiden, shareandsharealike, astenantsincommon.1Weidenisthethirdnamedindorsee therein. They filed in the bankruptcy proceedin&s proofs of claim on their purportedindividual shares of the five notes, as indorsees. The record does not show whether those claimsinbankruptcyhave beenallowed, or whether theywere contestedbythe trustee. Weidenattempted in his counterclaims to use his purported share of the five notes as a set4off a&ainst thedebt for which the trustee is suin&, defendant)s share of the notes, includin& interest, bein& lar&erin amount than the debt in suit. ISSUE: Whether the indorsements in the promissory notes would operate as a ne&otiation, and thus would serve as a set4off to the debt.HELD: No. +ccordin& to Sec. $5 of the 6niform 7e&otiable Instruments 8aw, 9the indorsement mustbe an indorsement of the entire instrument. +n indorsement which purports to transfer to theinstrument to two or more indorsees severally, does not operate as a ne&otiation of theinstruments.: When there has been a purported indorsement of the whole instrument, in separateparts to two or more transferee, the purported indorsees take le&al title to their several shares, orany one or more may sue, provided all the other indorsees are brou&ht in as parties. Sec. %5 ofthe6niform7e&otiableInstruments8awstatesthat theindorsement doesnot 9operateasane&otiation,: and su&&ests that it is entirely inoperative.2repared by0 ;atrina S.