National Loan & Building Ass'n v. Lichtenwalner
Supreme Court of Pennsylvania
Error to the Court of Common Pleas of Lehigh county : Of January Term 1882, No 176. Assumpsit, by the National Loan and Building Association against Charles Lichtenwalnex’, upon this contract:— “ I hereby guarantee the payment of the within'certificate. “ April 24, Í877. . Charles Lichtenwalner.”
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Error to the Court of Common Pleas of Lehigh county : Of January Term 1882, No 176. Assumpsit, by the National Loan and Building Association against Charles Lichtenwalnex’, upon this contract:— “ I hereby guarantee the payment of the within'certificate. “ April 24, Í877. . Charles Lichtenwalner.” This was indorsed upon a certificate of deposit for $500. issued by the Fx’anklin Savings Bank to the order of Chax’les Lichtenwalnex’, dated June 10th 1876, payable six months after date; which certificate, so endox’sed, Lichtenwalner oix April 24th 1877, transferred for value to the National Loan…
1Opinion of the CourtJustice Paxson
That this is a contract of guaranty is settled by abundant authority: Bank v. Haynes, 8 Pick 423 ; Curtis v. Brown, 2 Barb. 55 ; Isett v. Hoge, 2 Watts 128; Johnston v. Chapman, 3 Penna. R. 18; Hoffman v. Bechtel, 2. P. F. S. 190; Woods v. Sherman, 21 Id. 100. It is equally clear that such contract imposes upon the plaintiff the duty of exercising due diligence to enforce payment from the principal before resort can be had to the guarantor. Campbell v. Baker, 10 Wright 243 ; Reigart v. White, 2. P. F. S. 439 ; Hoffman v. Bechtel, Ibid. 190. 'What is due diligence ? There are many cases upon…
2Cases cited2 opinions
- Isett v. HogeSupreme Court of Pennsylvania · 1833
- Curtis v. BrownNew York Supreme Court · 1847
3Cited by9 opinions
- Gordon, SEC. of Bk. v. BiesingerSupreme Court of Pennsylvania · 1938
- Johnson v. Charles D. Norton Co.Court of Appeals for the Sixth Circuit · 1908
- Langston v. National Media Corp.Superior Court of Pennsylvania · 1992
- Pattison v. CobbSupreme Court of Pennsylvania · 1905
- League Island Community Building & Loan Ass'n v. DoyleSupreme Court of Pennsylvania · 1936
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