Valley National Bank of Chambersburg v. Crowell
Supreme Court of Pennsylvania
Appeals, Nos. 320 and 321, Jan. T., 1892, by defendants, J. B. Crowell et al, from judgments of C. P. Franklin Co., Dec. T., 1891, Nos. 142 and 172, in favor of plaintiffs, on rules for judgment for want of sufficient affidavits of defence. Actions on promissory notes. The defence set up by the affidavit was that there was no technical liability as indorsers on the part of defendants, because of the non-negotiability of the notes sued on.
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Appeals, Nos. 320 and 321, Jan. T., 1892, by defendants, J. B. Crowell et al, from judgments of C. P. Franklin Co., Dec. T., 1891, Nos. 142 and 172, in favor of plaintiffs, on rules for judgment for want of sufficient affidavits of defence. Actions on promissory notes. The defence set up by the affidavit was that there was no technical liability as indorsers on the part of defendants, because of the non-negotiability of the notes sued on. These notes contained, in addition to the ordinary form of note, the clause which is quoted in the opinion of the Supreme Court. The court below, Sadler, P.…
1Opinion of the Court
Per Curiam,
The only question in this case was whether the note in controversy was negotiable. It is in the usual form of negotiable paper, but it is contended that its negotiability is destroyed by reason of the following provision contained therein: “ Having deposited herewith a like amount of Crowell Company mortgage bonds as collateral security, which we authorize the holder of this note, upon the nonperformance of this promise at maturity, to sell either at the brokers’ board, or at public or private sale, without demanding payment of this note or the debt due thereon, and without further…
2Cases cited5 opinions
- Towne v. RiceMassachusetts Supreme Judicial Court · 1877
- Burrall v. De GrootThe Superior Court of New York City · 1856
- Woods v. NorthSupreme Court of Pennsylvania · 1877
- Iron City N. Bank v. McCordSupreme Court of Pennsylvania · 1891
- Johnston v. SpeerSupreme Court of Pennsylvania · 1880
3Cited by3 opinions
- Titusville Trust Co. v. JohnsonSupreme Court of Pennsylvania · 1953
- De Hass v. RobertsU.S. Circuit Court for the District of Western Pennsylvania · 1894
- Gilpin v. People's BankIndiana Court of Appeals · 1909