Legal Opinion
Potomac Coal Co. v. $81,961.13, In the Hands of an Escrow Agent
Superior Court of Pennsylvania
Decided June 26, 1996PublishedCited by 8 opinions
1Opinion of the Court
HESTER, Judge.
PNC Bank, N.A., appeals the August 31, 1995 order granting the motion for summary judgment filed by appellees, Potomac Coal Company (“Potomac Coal”) and Clise (“Clise”) Coal Company, and denying appellant’s motion for summary judgment. In this interpleader action, appellant and Clise claim $81,961.13 currently held in an escrow account. We are asked to determine the enforceability of a future advance or “dragnet clause” in a security agreement executed by Potomac Coal. We conclude that the clause is valid under section 9204(c) of the Uniform Commercial Code (“UCC”), Í3 Pa.C.S.…
2Cases cited12 opinions
- National Bank of Eastern Arkansas v. General Mills, Inc.Court of Appeals for the Eighth Circuit · 1960
- Community Bank v. JonesOregon Supreme Court · 1977
- National Bank of Eastern Arkansas v. BlankenshipDistrict Court, E.D. Arkansas · 1959
- John Miller Supply Co. v. Western State BankWisconsin Supreme Court · 1972
- In the Matter of Riss Tanning Corporation, Bankrupt. State Bank of Albany v. United StatesCourt of Appeals for the Second Circuit · 1972
7 more not listed; retrieve them via the Exa API.
3Cited by8 opinions
- Allegheny-Ludlum Brackenridge Federal Credit Union, Movant v. Fassinger (In Re Fassinger)United States Bankruptcy Court, W.D. Pennsylvania · 2000
- In Re GibsonUnited States Bankruptcy Court, E.D. Pennsylvania · 2000
- In Re LewisUnited States Bankruptcy Court, E.D. Virginia · 1997
- In Re WollinUnited States Bankruptcy Court, D. Oregon · 2000
- Manufacturers & Traders Trust Co. v. Walsh (In Re Burkett)United States Bankruptcy Court, W.D. Pennsylvania · 2003
3 more not listed; retrieve them via the Exa API.