O'Hare v. Second National Bank
Supreme Court of Pennsylvania
Writs of error to the Court of Common Pleas of Crawford county: Of October and November Term 1874, No. 40 and 41. On the 25th of June 1873, the Second National Bank of Titus-ville commenced an action of assumpsit against Hugh O’Hare.
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Writs of error to the Court of Common Pleas of Crawford county: Of October and November Term 1874, No. 40 and 41. On the 25th of June 1873, the Second National Bank of Titus-ville commenced an action of assumpsit against Hugh O’Hare. The action was upon two notes, one for $1500, drawn by Paul W. Gatfield, dated January 21st 1873, payable in four months, to the order of the defendant and endorsed by him ; the other for $1300, drawn by H. A. Spear and C. Irwin, payable in sixty days, to W. H. Wallace, and endorsed by him and the defendant; also, for an over-draft by the defendant on the…
1Opinion of the CourtChief Justice Agnew
The main question ip these cases is, whether the notes in suit are illegal, and cannot be recovered upon, because at the time they were discounted the bank had previously lent the drawer, for whose accommodation O’Hare endorsed, more than one-tenth part of its capital. It is contended that the discount was contrary to the 29th section of the National Bank Law of June 3d 1864, providing that “ the total liabilities to any association, of any person, or of any company, corporation or firm for money borrowed, including in the liabilities of a company or firm, the liabilities of the several…
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