Shackamaxon Bank v. Yard
Supreme Court of Pennsylvania
No. 178 July Term 1890, Sup. Ct.; court below, No. 703 December Term 1885, C. P. No. 2. To the number and term of the court below, above stated, the Shackamaxon Bank, to the use of Joseph Ferguson and W. E. Swire, assignees for creditors of said bank, brought debt against “Benjamin Yard and Mary E. Yard, his wife, executrix of Charles S. Murphy, deceased, ” declaring on a bond of said Murphy as the surety of Thos. L. Huggard, the cashier of said bank, averring breaches.
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No. 178 July Term 1890, Sup. Ct.; court below, No. 703 December Term 1885, C. P. No. 2. To the number and term of the court below, above stated, the Shackamaxon Bank, to the use of Joseph Ferguson and W. E. Swire, assignees for creditors of said bank, brought debt against “Benjamin Yard and Mary E. Yard, his wife, executrix of Charles S. Murphy, deceased, ” declaring on a bond of said Murphy as the surety of Thos. L. Huggard, the cashier of said bank, averring breaches. The defendant executrix pleaded non est factum, nil debet, payment with leave, plene administravit. At the trial, on January…
1Opinion of the Court
Opinion,
Mr. Justice Williams:
This action was brought upon a cashier’s bond. The defence made by the surety rests on his construction of the condition in the bond. It appears that one Thomas L. Huggard was elected cashier of the Shackamaxon Bank in 1873, and gave a bond to secure the faithful discharge of his duties, with Murphy as surety. It is clear that all the parties contemplated the establishment of permanent relations between the bank and its cashier. They knew that the office was an annual one, and that a bond in the ordinary form would impose no liability beyond the current year. They…
2Cases cited2 opinions
- Coe v. VogdesSupreme Court of Pennsylvania · 1872
- Manufacturers' & Mechanics' Savings & Loan Co. v. Odd Fellows' Hall Asso'nSupreme Court of Pennsylvania · 1865
3Cited by8 opinions
- Lorch's EstateSupreme Court of Pennsylvania · 1925
- Fink v. Farmers' BankSupreme Court of Pennsylvania · 1896
- Klatte v. Franklin State BankWisconsin Supreme Court · 1933
- Shackamaxon Bank v. YardSupreme Court of Pennsylvania · 1892
- County of Sullivan v. MiddendorfSuperior Court of Pennsylvania · 1898
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