Beckman, Secy. of Banking v. Archer

Opinion by

Mr. Justice Horace Stern,

A written agreement was entered into on December 29, 1930, between the Ardmore Title and Trust Company, which was in failing circumstances, and the Merion Title and Trust Company of Ardmore. Ardmore Company assigned to Merion Company all of its assets, and in consideration thereof Merion Company assumed and agreed “to pay and discharge all of the liabilities and obligations of Ardmore Company to its depositors and all other creditors, . . . which liábilities and obligations shall be paid and discharged in the manner and at the time payment and discharge…