Cheltenham National Bank v. Snelling

Opinion by

Hoffman, J.,

This appeal is from an order of the Court of Common Pleas of Montgomery County dismissing appellant’s petition to open and set aside a confessed judgment. We must determine whether a clause allowing judgment to be confessed “at any time” renders the instrument nonnegotiable; if so, we must determine whether principles of equitable estoppel preclude the appellant from asserting defenses against the appellee, the present holder of the instrument.

The complex facts of this case may be summarized as follows: On August 14,1969, Goodway Copy Centers, Inc. (“Goodway”) and…