Pennsylvania Co. v. Harrison

Knight, J.,

The defendant made a note, payable to himself, which he transferred by endorsement to Merion Title & Trust CQmpany, for value received. Merion Title & Trust Company transferred the note by endorsement, before maturity, to the plaintiff, “as and for additional and further security for previous loans, advances, moneys, and charges due the plaintiff by Merion Title & Trust Company.”

The affidavit of defense avers that on October 26, 1931, the date of the note, the officers of Merion Title & Trust Company knew that their bank was insolvent, and that the plaintiff on that date or the day…