Philadelphia Bond & Mortgage Co. v. Highland Crest Homes, Inc.

Opinion by

Cercone, J.,

William Jules Sanft, hereinafter Jules Sanft, was President of Highland Crest Homes, Inc., hereinafter Highland. Highland wished to borrow money from Industrial Valley Bank and Trust Company, hereinafter IVB. It is unclear if this money was to be used personally by Jules Sanft or by Highland. IVB would not lend Highland the money unless Highland obtained a surety. Philadelphia Bond and Mortgage Company, hereinafter PBM, agreed to act as surety if Highland could get a creditworthy co-maker on a judgment note to PBM. Sarah Sanft, Jules Sanft’s mother, agreed to sign the…