First National Bank v. Peltz
Supreme Court of Pennsylvania
Appeal, No. 859, Jan. T., 1896, by defendant, from judgment of C. P. Potter Co., Deo. T., 1894, No. 291, on verdict for plaintiff. Assumpsit against a second indorser on a promissory note. Before Mobbison, J. The note was as follows: No. 3033. Lode Llamen, Pa., July 8th, 1891. Four months............after date L promise to pay to the order of... Ghcvrles Kreamer,.........................
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Appeal, No. 859, Jan. T., 1896, by defendant, from judgment of C. P. Potter Co., Deo. T., 1894, No. 291, on verdict for plaintiff. Assumpsit against a second indorser on a promissory note. Before Mobbison, J. The note was as follows: No. 3033. Lode Llamen, Pa., July 8th, 1891. Four months............after date L promise to pay to the order of... Ghcvrles Kreamer,......................... Four Thousand................................Dollars, at the.. .First National BcmJe,..........without defalcation, Value redd. John W. Budc. $1000.oo Due Nov. 11th. 100 Chcvi'Zee K'i'ec~rner, Endorsed E…
1Opinion of the Court
Opinion by
Mr. Justice Mitchell,
The first assignment of error cannot be sustained. Wliile a bank which is the holder of a note, and has on deposit at the time of maturity a sum to the credit of any party liable to it on the note sufficient to pay it, and not previously appropriated *518by the depositor to be held for a different purpose, may apply the deposit to the payment of the note, yet it is not in general bound to do so. The cases where the right becomes a duty on the part of the bank rest on the special equity of the party, usually the indorser, to have the payment enforced against the…
2Cases cited6 opinions
- Commercial National Bank v. HenningerSupreme Court of Pennsylvania · 1884
- Peoples' Bank v. LegrandSupreme Court of Pennsylvania · 1883
- Mechanics & Traders Bank v. Seitz Bros.Supreme Court of Pennsylvania · 1892
- Bank v. ForemanSupreme Court of Pennsylvania · 1891
- First National Bank v. ShreinerSupreme Court of Pennsylvania · 1885
1 more not listed; retrieve them via the Exa API.
3Cited by13 opinions
- Franklin Savings & Trust Co. v. ClarkSupreme Court of Pennsylvania · 1925
- Moreland v. Peoples BankMississippi Supreme Court · 1917
- Second National Bank v. GrahamSupreme Court of Pennsylvania · 1914
- Maryland Casualty Co. v. National Bank of Germantown & Trust Co.Supreme Court of Pennsylvania · 1935
- Farmers' National Bank v. JonesCourt of Appeals of Kentucky (pre-1976) · 1930
8 more not listed; retrieve them via the Exa API.