Liberty National Bank v. Degillio

Opinion by

Mr. Justice Eagen,

On July 24, 1956, the defendants executed and delivered to the First National Bank of Wilkes-Barre, Luzerne County, Pennsylvania, a bond and warrant in the penal sum of $50,000 to secure the payment of a mortgage in the amount of $25,000 given on improved real estate owned by the defendants. The mortgagee bank later merged with the Second National Bank of Wilkes-Barre. On July 18, 1961, payments due on the mortgage being in default and the payment of taxes being in arrears, judgment was entered on the bond in favor of the Second National Bank of Wilkes-Barre, as…