Chase v. Petroleum Bank
Supreme Court of Pennsylvania
Error to the Court of Common Pleas of Qraivford county: No. 157, to October and November Term 1870. In an action of debt in the Court of Common Pleas of Crawford county, of November 1866, between tbe Petroleum Bank to tbe use of F. W. Ames, receiver, plaintiff, and Joseph L. Chase, defendant, on a note for $800, the jury found tbe following special verdict March 29th 1870 :— “ On or about tbe 22d day of March 1866, tbe defendant called upon John R. Madison, the cashier and…
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Error to the Court of Common Pleas of Qraivford county: No. 157, to October and November Term 1870. In an action of debt in the Court of Common Pleas of Crawford county, of November 1866, between tbe Petroleum Bank to tbe use of F. W. Ames, receiver, plaintiff, and Joseph L. Chase, defendant, on a note for $800, the jury found tbe following special verdict March 29th 1870 :— “ On or about tbe 22d day of March 1866, tbe defendant called upon John R. Madison, the cashier and general discount agent of the Petroleum Bank, and requested him to pay the premium on the life insurance policies of the…
1Opinion of the Court
The opinion of the court was delivered, January 3d 1871, by
Williams, J.
— We are of the opinion that the facts found by *171the special verdict show an equitable appropriation of the balances of the deposit accounts in the bank, of which the defendant had the control, to the payment of the money for which his note was given. The contract was not a mere naked agreement that the funds should be applied to the payment of a debt previously contracted ; but it was a contract under which the bank advanced the money in consideration of the defendant’s agreement that the funds should be appropriated to…
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