Thorp v. Wegefarth
Supreme Court of Pennsylvania
Error to the Court of Common Pleas of Crawford county: No. 117, to October and November Term 1867. In the court below this was a feigned issue to try whether a judgment obtained on the 21st of October 1865, under the circumstances hereafter stated, by the National Bank of Crawford County, of Meadville, against C. Wegefarth, had “ been equitably paid since the rendition of the same.”
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Error to the Court of Common Pleas of Crawford county: No. 117, to October and November Term 1867. In the court below this was a feigned issue to try whether a judgment obtained on the 21st of October 1865, under the circumstances hereafter stated, by the National Bank of Crawford County, of Meadville, against C. Wegefarth, had “ been equitably paid since the rendition of the same.” The Bank of Crawford County had been incorporated some time before 1864 by the Commonwealth of Pennsylvania. In May 1865 it became a national bank under the provisions of the Act of the Legislature to enable state…
1Opinion of the Court
The opinion of the court was delivered, January 7th 1868, by
Agnew, J.
Under the Enabling Act of this State, in conjunction with the permissive feature of the National Bank Law, it may well be conceded that the national banking association became liable for the existing debts and liabilities of the state bank, when the latter passed into the fotmer, carrying with it all its asset's. Had the defendant then been the debtor of the state bank, a¡nd also its creditor by possession of its notes of circulation, doubtless the mutual obligation would have remained, and he could have compelled the…
2Cited by19 opinions
- Bell Federal Savings & Loan Ass'n v. Laura Lanes, Inc.Superior Court of Pennsylvania · 1981
- McKee v. VernerSupreme Court of Pennsylvania · 1913
- Fidelity Bank v. Act of America, Inc.Superior Court of Pennsylvania · 1978
- Harrison v. StoeckertSupreme Court of Pennsylvania · 1952
- J. M. Korn & Son, Inc. v. Fleet-Air Corp.Superior Court of Pennsylvania · 1982
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