Chestnut Hill Title & Trust Co. v. Apsley B. & L. Ass'n

Flood, J.,

— Plaintiff has sued defendant building and loan association upon its demand note for $4,000. Defendant admits the issuance of the note, but sets forth that the note was given in payment of matured building and loan shares of defendant’s 25th and 26th series and raises two defenses.

1. The first defense is that a contemporaneous agreement was entered into with the president of plaintiff bank, acting for it, providing that the note should not become due and payable until other matured shareholders in the 25th and 26th series were reached for payment and that they had not been so…