Peterson v. Union National Bank
Supreme Court of Pennsylvania
Error to the District Court of Philadelphia. This was an action of assumpsit by Pearson S. Peterson and Jesse White, Jr., under the firm of P. S. Peterson & Co., against ‘the Union National Bank of Philadelphia. The writ issued August 15th 1865. The claim of the plaintiffs was for the balance of their account on deposit with the defendants, which they alleged was $21,535.31. The defendants alleged that it was $9003 less than that sum.
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Error to the District Court of Philadelphia. This was an action of assumpsit by Pearson S. Peterson and Jesse White, Jr., under the firm of P. S. Peterson & Co., against ‘the Union National Bank of Philadelphia. The writ issued August 15th 1865. The claim of the plaintiffs was for the balance of their account on deposit with the defendants, which they alleged was $21,535.31. The defendants alleged that it was $9003 less than that sum. On the 31st of July 1865, the plaintiffs made a deposit with the defendants, of cash and checks, amounting to $32,200, which amount was credited in the…
1Opinion of the Court
The opinion of the court was delivered, March 26th 1866, by
Strong, J.
That the check of Stamford & Houston was not actually paid is a conceded fact. No more is claimed than that the bank paid it in legal effect, by charging it to the drawers, and crediting its amount to the plaintiffs. But what of that ? Surely *209it needs no argument to prove that the plaintiffs can retain no credit obtained by their fraud. The drawing a check upon a bank in which the drawer has no funds, and uttering it, is a fraud. It amounts to a false affirmation, that the money is there to meet it. Hence, it is a deceit…
2Cases cited1 opinion
- Levy v. President of the Bank of the United StatesSupreme Court of Pennsylvania · 1802
3Cited by8 opinions
- Farmers & Merchants Bank v. Universal C. I. T. Credit Corp.Utah Supreme Court · 1955
- Federal Deposit Insurance v. CiaffoniSuperior Court of Pennsylvania · 1954
- Pittsburg v. First National Bank of SheradenSupreme Court of Pennsylvania · 1911
- Home Savings Bank v. General Finance Corp.Wisconsin Supreme Court · 1960
- Farmers & Merchants Bank v. Universal C.I.T. Credit Corp.Utah Supreme Court · 1957
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