Northern National Bank v. Arnold
Supreme Court of Pennsylvania
Appeal, No. 109, Jan. T., 1898, by defendant, from judgment of C. P. Lancaster Co., March T., 1897, No. 26, on verdict for plaintiff. Assumpsit on a promissory note by indorsee against maker. Before Livingston, P. J. At the trial there was evidence that the note in suit was given in a stock gambling transaction. It appeared that the plaintiff was a bona fide indorsee and holder for value, without notice, and before maturity.
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Appeal, No. 109, Jan. T., 1898, by defendant, from judgment of C. P. Lancaster Co., March T., 1897, No. 26, on verdict for plaintiff. Assumpsit on a promissory note by indorsee against maker. Before Livingston, P. J. At the trial there was evidence that the note in suit was given in a stock gambling transaction. It appeared that the plaintiff was a bona fide indorsee and holder for value, without notice, and before maturity. Defendant’s point and the answer thereto among others were as follows : 2. If the jury believe from the evidence that the note in suit was given for stock transactions…
1Opinion of the Court
Per Curiam,
This appeal presents the single question whether a bona fide indorsee and holder, for value, without notice and before maturity, of a promissory note given in a “ stock gambling ” transaction can recover against the maker. This is not the case of a note made void under the Act of April 22, 1794, P. L. 181, section 8. While the law of this state is exceptional in dealing with certain stock transactions known as “ wagering contracts,” none of our cases has gone the length that is here contended for by the defendant. Our decisions under the act of 1794, supra, are expressly grounded…
2Cases cited2 opinions
- Unger v. BoasSupreme Court of Pennsylvania · 1850
- Harper v. YoungSupreme Court of Pennsylvania · 1886
3Cited by5 opinions
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- Sutterly v. FleshmanSuperior Court of Pennsylvania · 1909
- Brinegar v. Bank of WyomingWest Virginia Supreme Court · 1925
- Joffe v. Miller, Pennsylvania Court of Common Pleas, Washington County1927