Milton National Bank v. Beaver
Superior Court of Pennsylvania
Appeal, No. 6, Feb. T., 1904, by plaintiff, from order of C. P. Union Co., May T., 1903, No. 109, making absolute rule to open judgment in case of Milton National Bank v. Levi Beaver. Rule to open judgment entered on a judgment note.
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Appeal, No. 6, Feb. T., 1904, by plaintiff, from order of C. P. Union Co., May T., 1903, No. 109, making absolute rule to open judgment in case of Milton National Bank v. Levi Beaver. Rule to open judgment entered on a judgment note. From the record it appeared that the ground alleged for opening the judgment was that the note which had been given by the defendant, to B. Cook, and upon which judgment had been entered had been raised from §9.00 to §89.00. McClure, P. J., filed the following opinion : The pivotal question is whether Beaver’s note is a negotiable or nonnegotiable instrument,…
1Opinion of the Court
Opinion by
Rice, P. J.,
Section 5 of the negotiable instruments law of 1901, P. L.194, declares that the negotiable character of an instrument, otherwise negotiable, is not affected by a provision which “ authorizes a confession of judgment if the instrument be not paid at maturity.” But the promissory note in question in this case authorized judgment to be confessed “ at any term,” and it is needless to say that the question of its negotiability is not affected by the fact that judgment was not actually entered upon it until after maturity. Prior to the act of 1901 it was settled law that such…
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