Pennsylvania Co. v. Balcyn B. & L. Ass'n

Knight, P. J.,

The statement avers the following facts:

On March 16, 1931, defendant executed a promissory note, payable on demand, to The Merion Title & Trust Company, for $100,000, which note was transferred by endorsement, without recourse, to the plaintiff. At various dates between April 4,1931, and July 24,1934, there were payments made on the note, reducing it to $7,500* The plaintiff, averring that it is a holder in due course of the obligation, brings this suit to recover the balance of $7,500 with interest.

The affidavit of defense admits the execution of the note, and that plaintiff is…