Quin v. Callahan
Supreme Court of Pennsylvania
ERROR TO THE COURT OE COMMON PLEAS NO. 4 OE PHILADELPHIA COUNTY. No. 179 July Term 1888, Sup. Ct.; court below, No. 167 March Term 1886, C. P. No. 4. On March 8, 1886, Charles T. Quixl, assignee for the benefit of creditors of the Commodore Barry Building & Loan Association, filed a bill in equity against (as amended) Thomas Callahan and George G. Pierie, recorder of deeds, the prayers of which bill were, upon the facts therein averred, that the satisfaction of a certain…
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ERROR TO THE COURT OE COMMON PLEAS NO. 4 OE PHILADELPHIA COUNTY. No. 179 July Term 1888, Sup. Ct.; court below, No. 167 March Term 1886, C. P. No. 4. On March 8, 1886, Charles T. Quixl, assignee for the benefit of creditors of the Commodore Barry Building & Loan Association, filed a bill in equity against (as amended) Thomas Callahan and George G. Pierie, recorder of deeds, the prayers of which bill were, upon the facts therein averred, that the satisfaction of a certain mortgage executed and delivered to said association by said Thomas Callahan, be stricken off and declared null and void;…
1Opinion of the Court
Opinion,
Mr. Chief Justice Paxson :
At the time the plaintiff’s mortgage was satisfied the stock of the first series had not matured. I do not understand this to be disputed. It is true, the secretary on March 3, 1885, reported to the board of directors that it had matured, and it is probable they believed him, and passed the resolution authorizing the satisfaction of the appellant’s mortgage in entire good faith. It subsequently appeared that the secretary was a rogue, and had been systematically robbing the company for years; that in consequence thereof, the stock, instead of being worth two…
2Cases cited3 opinions
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