Shackamaxon Bank v. Yard
Supreme Court of Pennsylvania
Appeal, No. 149, Jan. T., 1892, by defendant, from judgment of C. P. No. 2, Phila. Co., Dec. T., 1885, No. 703, on verdict for plaintiff, in assumpsit on covenant in bond to secure the faithful performance of the duties of cashier of state bank. The action was brought by the Shackamaxon Bank, for the use of its assignees,- against Yard, executrix of Murphy, deceased, who was a surety on the bond of a cashier in said bank.
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Appeal, No. 149, Jan. T., 1892, by defendant, from judgment of C. P. No. 2, Phila. Co., Dec. T., 1885, No. 703, on verdict for plaintiff, in assumpsit on covenant in bond to secure the faithful performance of the duties of cashier of state bank. The action was brought by the Shackamaxon Bank, for the use of its assignees,- against Yard, executrix of Murphy, deceased, who was a surety on the bond of a cashier in said bank. The evidence, on the trial before Hare, P. J., was to the following effect: On May 1, 1873, Thomas L. Huggard and C. S. Murphy gave to the Shackamaxon bank a bond in the sum…
1Opinion of the Court
Opinion by
Mb. Justice Williams,
This case was here in 1891, and is reported in 143 Pa. 129. The question then presented was whether a formal re-election of the cashier each year was necessary in order to the liability of the surety on his official bond. The learned judge of the *356court below was of that opinion and accordingly entered judgment in favor of the defendant. The plaintiff appealed assigning the ruling upon this question, as error. We sustained the assignment and directed judgment in favor of the plaintiff on the reserved point. The defendant is now the appellant. He contends that he…
2Cases cited2 opinions
- Shackamaxon Bank v. YardSupreme Court of Pennsylvania · 1891
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