Iron & Glass Bank v. Franz

WETTICK, J.,

These are actions by Iron and Glass Bank (Iron and Glass) to recover money allegedly owing on two loan agreements. In defendants’ answer and new matter, defendants aver that they are excused from making payments on the loan agreements because the proceeds from the loans were used to purchase goods and services from First Lady Spa, Inc. (Spa), which breached its agreements with defendants. In their new matter, defendants further aver that the promissory notes upon which plaintiff sued were executed to purchase these goods and services; that the promissory notes were prepared by, at…