Bennett v. North Philadelphia Trust Co.
Superior Court of Pennsylvania
Appeal, No. 271, Oct. T., 1916, by plaintiff, from judgment of C. P. No. 3, Philadelphia Co., March T., 1916, No. 4886, for defendant on case stated in suit of William H. B. Bennett, Trustee of the Estate of H. W. Thomas and Edgar T. Hill, individually and trading as Edgar T. Hill & Co. v. North Philadeh phia Trust Company. Case stated to determine the application of the proceeds of sale of securities accompanying a collateral note.
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Appeal, No. 271, Oct. T., 1916, by plaintiff, from judgment of C. P. No. 3, Philadelphia Co., March T., 1916, No. 4886, for defendant on case stated in suit of William H. B. Bennett, Trustee of the Estate of H. W. Thomas and Edgar T. Hill, individually and trading as Edgar T. Hill & Co. v. North Philadeh phia Trust Company. Case stated to determine the application of the proceeds of sale of securities accompanying a collateral note. Before McMiohael, P. J. The opinion of the Superior Court states the case. Error assigned was in entering judgment for defendant.
1Opinion of the Court
Opinion bt
Williams, J.,
Edgar T. Hill and H. W. Thomas were copartners, trading under the firm name of Edgar T. Hill & Co. August 26, 1914, Thomas 'borrowed $1,900 from defendant and gave a collateral note, pledging securities therefor, which.contained the usual clause that the securities “shall be applicable......to secure the payment of any past or of any future obligation of the undersigned held by the holders of this obligation.” About the same time Edgar T. Hill & Co., for a consideration, endorsed and delivered to defendant a note for $200, of which W. C. *264Brady was the maker, and on…
2Cases cited7 opinions
- Hewit v. Berlin MacHine WorksSupreme Court of the United States · 1904
- Humphrey v. TatmanSupreme Court of the United States · 1905
- Germania Savings Bank & Trust Co. v. LoebCourt of Appeals for the Sixth Circuit · 1911
- Davis v. BillingsSupreme Court of Pennsylvania · 1916
- In re SearlesDistrict Court, E.D. New York · 1912
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- Fidelity Union Casualty Co. v. HansonTexas Commission of Appeals · 1932
- City Hall Building & Loan Ass'n v. Star Corp.Supreme Court of New Jersey · 1933