Southwark National Bank v. Beck

Opinion by

Gawthrop, J.,

Benny Beck was a depositor with the plaintiff bank. On November 2,1927, he borrowed $600 from the bank and gave it his promissory note for that amount, payable three months after date. At the same time he executed and delivered to the bank a collateral agreement, which provided, inter alia, as follows:

“In consideration of granting any credits by said bank, the undersigned agrees that in ease of the failure, insolvency, receivership or death of the undersigned, ......any and all claims or demands against, or notes or other obligations of the undersigned held by said…