First National Bank v. Dick
Superior Court of Pennsylvania
Appeal, No. 43, Jan. T., 1903, by defendant, from judgment of C. P. Luzerne Co., Feb. T., 1902, No. 176, making absolute rule for judgment for want of a sufficient affidavit of defense in case of First National Bank of Mahanoy City v. Arthur E. Dick. Assumpsit by indorsee against maker of a promissory note.
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Appeal, No. 43, Jan. T., 1903, by defendant, from judgment of C. P. Luzerne Co., Feb. T., 1902, No. 176, making absolute rule for judgment for want of a sufficient affidavit of defense in case of First National Bank of Mahanoy City v. Arthur E. Dick. Assumpsit by indorsee against maker of a promissory note. The affidavit of defense was as follows : That the note upon which this action is founded, dated September 28, 1899, was given to John A. Titman for powder, which said Titman was to furnish to Arthur E. Dick, said note having been given in advance of the powder being furnished. That said…
1Opinion of the Court
Opinion by
Smith, J.,
The liability assumed by the defendant, in giving the note in suit, is to be determined by well settled legal principles.
The making of an accommodation note is a loan of the maker's credit, with no restriction on its use. In this state, for half a century, at least, this principle has stood unquestioned: Lord v. Ocean Bank, 20 Pa. 384; Carpenter v. National Bank of the Republic, 106 Pa. 170; Hart v. United States Trust Co., 118 Pa. 565; National Union Bank v. Todd, 132 Pa. 312; Penn Safe Deposit, etc., Co. v. Kennedy, 175 Pa. 160. Hence, in'all action on such note, by an…
2Cases cited12 opinions
- Martin & Monroe v. BerensSupreme Court of Pennsylvania · 1871
- Union Storage Co. ex rel. Liverpool & London & Globe Insurance v. SpeckSupreme Court of Pennsylvania · 1899
- Ziegler v. McFarlandSupreme Court of Pennsylvania · 1892
- Commercial National Bank v. HenningerSupreme Court of Pennsylvania · 1884
- Lord v. Ocean BankSupreme Court of Pennsylvania · 1853
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