State Bank v. Kirk
Supreme Court of Pennsylvania
Appeal, No. 6, Oct. T., 1906, by defendant, from order of C. P. No. 3, Allegheny Co., Feb. T., 1905, No, 432, making absolute rule for judgment for want of a sufficient affidavit of defense in case of State Bank of Pitts-burg, in the hands of John F. Steel, Receiver, v. Thomas T. Kirk. Assumpsit on promissory notes. Rule for judgment for want of a sufficient affidavit of defense.
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Appeal, No. 6, Oct. T., 1906, by defendant, from order of C. P. No. 3, Allegheny Co., Feb. T., 1905, No, 432, making absolute rule for judgment for want of a sufficient affidavit of defense in case of State Bank of Pitts-burg, in the hands of John F. Steel, Receiver, v. Thomas T. Kirk. Assumpsit on promissory notes. Rule for judgment for want of a sufficient affidavit of defense. One of the several notes in suit was in the following form; “ $3,000. Pittsburg, Pa., April 7,1903. “ Nine months after date I promise to pay to the order of Thos. T. Kirk, at the State Bank of Pittsburg, Three…
1Opinion of the Court
Opinion by
Mr. Justice Elkin,
This is an action by the receiver of the State Bank of Pitts-burg against the appellant, who was indorser on certain promissory notes, executed and indorsed under the following circumstances. Appellant was a member of the board of directors of the bank whose capital was impaired by bad loans. It was deemed advisable to charge off these bad loans and substitute, in lieu of the amount so charged off, notes executed and indorsed by the individual members of the board, in an amount sufficient to make good the impairment of capital. The arrangement was carried out and…
2Cases cited6 opinions
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- Hurd v. . KellyNew York Court of Appeals · 1879
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- Best v. . ThielNew York Court of Appeals · 1879
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3Cited by27 opinions
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