National Bank v. Stever
Supreme Court of Pennsylvania
Appeal, No. 221, Jan. T., 1895, by-defendant, from judgment of C. P. Huntingdon Co., Sept. T., 1894, No. 42, on verdict for plaintiff. Assumpsit on a promissory note. Before Ftjrst, P. J. At the trial it appeared that on February 12, 1892, defendant delivered the note in suit which was for $5,150, to L. B. Doty. At the time L. B. Doty was soliciting subscriptions for the stock of a proposed company to purchase the Bedford Springs Hotel property.
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Appeal, No. 221, Jan. T., 1895, by-defendant, from judgment of C. P. Huntingdon Co., Sept. T., 1894, No. 42, on verdict for plaintiff. Assumpsit on a promissory note. Before Ftjrst, P. J. At the trial it appeared that on February 12, 1892, defendant delivered the note in suit which was for $5,150, to L. B. Doty. At the time L. B. Doty was soliciting subscriptions for the stock of a proposed company to purchase the Bedford Springs Hotel property. Defendant agreed to take one hundred shares of the stock, and gave the note in suit in payment therefor. At the same time the following agreement in…
1Opinion of the Court
Opinion by
Mr. Justice Green,
If the present action bad been brought by L. B. Doty to whom the note is suit was given, as a matter of course, there could be no recovery. It was a part of his written agreement with the defendant, that the note should be returned if he, Doty, failed to obtain sufficient subscriptions to enable the syndicate he Was trying to form, to purchase a controlling interest in the Bedford Springs Company. He did fail to accomplish that object and he also failed to do everything else that he agreed to do in the contract, by means of which he induced the defendant to give…
2Cases cited2 opinions
- Stockdale v. Keyes Bros.Supreme Court of Pennsylvania · 1875
- Bissell v. First National BankSupreme Court of Pennsylvania · 1871
3Cited by10 opinions
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- Fidelity Bank v. PiersonSupreme Court of Pennsylvania · 1970
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- Byrne v. DennisSupreme Court of Pennsylvania · 1931
- First National Bank & Trust Company v. StolarSuperior Court of Pennsylvania · 1937
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