Historical Publishing Co. v. Hartranft
Superior Court of Pennsylvania
Appeal, No. 62, Nor. T., 1896, by-defendant, from judgment of C. P. No. 1, Pbila. Co., Dec. T., 1895, No. 306, in favor of plaintiff for want of a sufficient affidavit of defense. Appeal from magistrate. Assumpsit on a promissory note. It appeared from the plaintiff’s statement of claim that suit was brought on a promissory note for $85.40 drawn by Rufus C. Hartranft and indorsed by H. G. Hartranft.
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Appeal, No. 62, Nor. T., 1896, by-defendant, from judgment of C. P. No. 1, Pbila. Co., Dec. T., 1895, No. 306, in favor of plaintiff for want of a sufficient affidavit of defense. Appeal from magistrate. Assumpsit on a promissory note. It appeared from the plaintiff’s statement of claim that suit was brought on a promissory note for $85.40 drawn by Rufus C. Hartranft and indorsed by H. G. Hartranft. The statement further averred that the plaintiff was the holder of the said promissory note, and took the same in the usual course of business before it was due, for a valuable consideration, and…
1Opinion of the Court
Opinion by
Rice, P. J.,
An accommodation indorsement of a negotiable promissory note is, prima facie, a loan of the indorser’s credit and it is no defence to an action by a bona fide holder for value to allege and show that as between the indorser and the maker the note was without consideration and that this was known to the indorsee; for to permit this would defeat the purpose for which he loaned his credit: Philler v. Patterson, 168 Pa. 468, 483; Peale v. Addicks, 174 Pa. 543, and cases there cited.
Nor is it a sufficient defense to an action against an indorser to allege that the indorsee…
2Cases cited5 opinions
- Peale v. AddicksSupreme Court of Pennsylvania · 1896
- Milling v. BeckerSupreme Court of Pennsylvania · 1880
- Philler v. PattersonSupreme Court of Pennsylvania · 1895
- McConeghy v. KirkSupreme Court of Pennsylvania · 1871
- Moore v. SomersetSupreme Court of Pennsylvania · 1843
3Cited by2 opinions
- Deacon v. SmaltzSuperior Court of Pennsylvania · 1899
- Pennsylvania Co. v. Balcyn B. & L. Ass'n, Pennsylvania Court of Common Pleas, Montgomery County1937