Park Bank v. Kleman
Supreme Court of Pennsylvania
Appeal, No. 98, Oct. T., 1923, by defendant, from order of O. P. Allegheny Co., Oct. T., 1920, No. 762, discharging rule to open judgment, in case of Park Bank, in the hand of Frank W. Jackson, receiver (now for use of J. R. Hermes) v. J. P. KLeman. Rule to open judgment. Before Macfarlane, J. The opinion of the Supreme Court states the facts. Rule discharged. Defendant appealed. Error assigned, inter alia, was order, quoting it.
1Opinion of the Court
Opinion by
Mr. Justice Sadler,
One Egley borrowed certain sums from the Park Bank of Pittsburgh. With the first note, renewed from time to time, he deposited two twenty-year term insurance policies, and transferred his interest therein as collateral *167security, agreeing that, “in case of default in the payment of the indebtedness hereby secured, the company may, upon demand of the assignee, apply the cash surrender value to the payment of the claim of said assignee, according to the rules of the company then in effect, upon the sole receipt of said assignee; the balance of said value, if any…
2Cases cited5 opinions
- Beaver Trust Co. v. MorganSupreme Court of Pennsylvania · 1918
- Neff's AppealSupreme Court of Pennsylvania · 1845
- Thermo Water Lift Co. v. Air Tight Steel Tank Co.Supreme Court of Pennsylvania · 1922
- Everly v. RiceSupreme Court of Pennsylvania · 1853
- Tabas v. RobinsonSupreme Court of Pennsylvania · 1922
3Cited by6 opinions
- Plummer v. WilsonSupreme Court of Pennsylvania · 1936
- Keystone Bank v. Flooring Specialists, Inc.Supreme Court of Pennsylvania · 1986
- First National Bank of Irwin v. FosterSupreme Court of Pennsylvania · 1927
- Karberg v. Southern Pacific Co.California Court of Appeal · 1935
- Homewood Peoples Bank v. CullSuperior Court of Pennsylvania · 1925
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