Gaul v. Willis
Supreme Court of Pennsylvania
Error to the District Court of Philadelphia. This was an action on a promissory note, by Benjamin B. Willis against Frederick Gaul, the maker.
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Error to the District Court of Philadelphia. This was an action on a promissory note, by Benjamin B. Willis against Frederick Gaul, the maker. William C. Budman, on behalf of the defendant, filed an affidavit of defence, as follows: “This deponent being anxious to borrow money, requested Frederick Gaul, the drawer, to lend him a note of $2000, now sued upon in this case, which he consented to do, and did without any consideration whatever, and solely for the accommodation of the deponent; that the said note so loaned by the said Frederick Gaul, was placed by the deponent in the hands of his…
1Opinion of the Court
The opinion of the court was delivered by
Lewis, C. J.
Frederick Gaul, the defendant below, loaned his note to William 0. Rudman, for the purpose of enabling the latter to raise money by the sale of it. The note was drawn in the usual form of negotiable instruments, and expressed on its face to have been given for “value received,” although there was in fact no debt due from Gaul to Rudman. Rudman endorsed the note, and sold it to Drexel & Co. They, in turn, disposed of it to • Benjamin B. Willis, at a discount equal to 1J per cent, per month. Neither Drexel & Co. nor Willis had any knowledge…
2Cases cited1 opinion
- Griffith v. RefordSupreme Court of Pennsylvania · 1829
3Cited by2 opinions
- Cook v. ForkerSupreme Court of Pennsylvania · 1899
- Medical Dental Business Service of New Jersey, Inc. v. Morrison, Pennsylvania Court of Common Pleas, Dauphin County1944