Watkins v. Workingmens' Building & Loan Ass'n
Supreme Court of Pennsylvania
Error to the Court of Common Pleas of Lackawanna county: Of July Term 1880. No. 95. Feigned issue, wherein The Workingmens’ Building and Loan Association of Hyde Park, was plaintiff and Tilomas T. Watkins was defendant, to determine the amount due upon a judgment entered in favor of the plaintiff upon a judgment-note given by the defendant for $800, waiving inquisition, &c., which judgment was opened by the court and the defendant let into a defence.
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Error to the Court of Common Pleas of Lackawanna county: Of July Term 1880. No. 95. Feigned issue, wherein The Workingmens’ Building and Loan Association of Hyde Park, was plaintiff and Tilomas T. Watkins was defendant, to determine the amount due upon a judgment entered in favor of the plaintiff upon a judgment-note given by the defendant for $800, waiving inquisition, &c., which judgment was opened by the court and the defendant let into a defence. It was agreed, by writing filed, that the note should stand as a declaration, and that the defendant’s pleas should be nil debet, payment with…
1Opinion of the CourtJustice Paxson
The plaintiff below was a building association. The defendant was a member, and had subscribed to four shares of its stock. The par value of said stock was $200 per share. By the law of the association each member was entitled to borrow $200 for each share of the stock so held by him. The defendant obtained a loan of $800, for which he was to pay a premium of 52 per cent. He received for said loan the sum of $384 in cash, the balance, $416, was the premium at which he bought the loan. To secure the money so borrowed he gave a judgment in the sum of $800, and also as a further security…
2Cases cited1 opinion
- Fisher v. KeanSupreme Court of Pennsylvania · 1832
3Cited by14 opinions
- York Trust, Real Estate & Deposit Co. v. GallatinSupreme Court of Pennsylvania · 1898
- Sullivan & Sons Manufacturing Co. v. Ideal Building & Loan Ass'nSupreme Court of Pennsylvania · 1933
- Morris Resnick B. & L. Ass'n v. BarnesSuperior Court of Pennsylvania · 1932
- Wadlinger v. Washington German B. & L. Ass'nSupreme Court of Pennsylvania · 1893
- Consolid'd B. L. Assn. v. ShipleySuperior Court of Pennsylvania · 1928
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