Byers v. Union Trust Co.
Supreme Court of Pennsylvania
Appeal No. 78, Jan. T., 1896, by plaintiff, from judgment of C. P. No. 2, Phila. Co., June T., 1895, No. 247, on demurrer to statement. Assumpsit against trustee on a corporation mortgage. Demurrer to statement.
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Appeal No. 78, Jan. T., 1896, by plaintiff, from judgment of C. P. No. 2, Phila. Co., June T., 1895, No. 247, on demurrer to statement. Assumpsit against trustee on a corporation mortgage. Demurrer to statement. Tbe plaintiff’s statement was as follows : 1. Tbe plaintiff, Cyrus A. Byers, brings this action against tbe Union Trust Co. to recover tbe sum of $4,000, being the amount paid by bim on June 19,1889, to tbe Elk Coal & Coke Co., tbe name of wbicb was subsequently changed to tbe Fisber Coke Co., for eight of its bonds, each of tbe denomination of $500, at six per cent interest, and…
1Opinion of the Court
Opinion by
Mr. Justice Green,
We do not consider that there is any basis of liability on the part of the defendant to pay the claim of the plaintiff in this case. The defendant is the mere trustee of the mortgage given by the Elk Coal & Coke Company for the protection of the bonds issued by that company. None of the money derived from the sales of the bonds was received by the defendant, and *326no engagement to pay any of the bonds was made by it. It is claimed for the appellant that the certificate signed by the trustee, and printed on the bond, created a liability to pay the money due on the…
2Cited by6 opinions
- Bell v. Title Trust & Guarantee Co.Supreme Court of Pennsylvania · 1927
- Newhall v. Norristown Trust Co.Supreme Court of Pennsylvania · 1924
- Feldmeier v. Mortgage Securities, Inc.California Court of Appeal · 1939
- Driscoll v. FitchDistrict Court, S.D. New York · 1943
- Gouley v. Land Title Bank & Trust Co., Pennsylvania Court of Common Pleas, Philadelphia County1936
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