Loan Ass'n v. Stonemetz
Supreme Court of Pennsylvania
Error to the District Court of Philadelphia. This was an action of assumpsit by Daniel Stonemetz against the Accommodation Loan and Saving Fund Association. Daniel Stonemetz was a member and director of the loan association, and was elected one of the committee on short loans, and chosen chairman of said committee.
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Error to the District Court of Philadelphia. This was an action of assumpsit by Daniel Stonemetz against the Accommodation Loan and Saving Fund Association. Daniel Stonemetz was a member and director of the loan association, and was elected one of the committee on short loans, and chosen chairman of said committee. The duties of the committee on short loans were to inquire into the character of the persons desiring loans, and the sufficiency of the securities offered for loans. The chairman was elected every six months. Stonemetz was elected chairman in March, 1854, and re-elected several…
1Opinion of the Court
The opinion of the court was delivered by
Portee,, J.
The resolution which gave the plaintiff his only hold, wanted the essential elements of a contract. It was but an .expression of the mind of the corporate body, for that which a *536man may accomplish by the power of speech, an artificial person is compelled to do by written resolve, and, in either case, a change of intention is not necessarily a breach of contract. The agreement which the resolution embodied, had no sufficient consideration for its support. If rested on the ground of moral obligation, that principle will be found so restrained…
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- Grafner v. Pittsburg, Neville Island & Coraopolis Street Railway Co.Supreme Court of Pennsylvania · 1903
- Schoen v. Lipkin, Exctx.Superior Court of Pennsylvania · 1931