Republic Acceptance Corp. v. Bennett

The plaintiff, a foreign corporation with its home office at Pittsburgh, Pennsylvania, as successor to the Republic Mortgage Company, brings this suit to recover on three contracts of guaranty of certain securities executed by defendants. . The defense raised was that the failure of the mortgage company, hereafter spoken of as the plaintiff, to comply with the statutes of this State requiring such corporations to take out a State license, pay a franchise fee, etc., barred its recovery. The trial judge so found and directed a verdict for defendants.

There is little dispute about the facts. The…