Penn Bank's Assigned Estate
Supreme Court of Pennsylvania
Appeal, No. 221, Oct. T., 1894, by the Germania Savings Bank, from decree of C. P. No. 1, Allegheny Co., Sept. T., 1884, No. 23, confirming report of auditor. Exceptions to auditor’s report, distributing balance shown by the third and final account of assignee of Penn Bank.
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Appeal, No. 221, Oct. T., 1894, by the Germania Savings Bank, from decree of C. P. No. 1, Allegheny Co., Sept. T., 1884, No. 23, confirming report of auditor. Exceptions to auditor’s report, distributing balance shown by the third and final account of assignee of Penn Bank. The auditor, Thomas D. Carnahan, Esq., found the facts as follows: “ On May 28, 1884, the Penn Bank made and executed to Henry Warner a deed of voluntary, assignment for the benefit of its creditors, and on the same day said deed was duly recorded. “The Penn Bank, several days prior to the assignment, had given to the…
1Opinion of the Court
Opinion by
Mb. Justice Mitchell,
The facts are mainly undisputed, the only difference as to them between the parties being whether the appellant’s agreement to discount the four notes for the Penn Bank was conditional on the paymeut of the latter’s check for $88,000. But if we look at the substance of the agreement, and what took place under it, the question whether it was conditional or not becomes immaterial. Taking its own version, the appellant was to be paid the check of eighty eight thousand dollars, and, to enable the Penn Bank to pay it, appellant was to lend the Penn forty thousand…
2Cases cited2 opinions
- Miller's AppealSupreme Court of Pennsylvania · 1860
- Warner v. HareSupreme Court of Pennsylvania · 1893