Collins v. Smith
Supreme Court of Pennsylvania
This was a writ of error to the District Court of the city and county of Philadelphia, to remove the record of an action brought in that court by William P. Smith against T. K. and P. G. Collins. The action was brought upon a promissory nóte, of which the plaintiff filed a copy in the following words, viz.: “ $463 8-100. Phila. Oct. 14, 1839. Sixty days after date, we promise to pay to the order of David Hoopes, treasurer, $463 8-100 without defalcation, for value received.
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This was a writ of error to the District Court of the city and county of Philadelphia, to remove the record of an action brought in that court by William P. Smith against T. K. and P. G. Collins. The action was brought upon a promissory nóte, of which the plaintiff filed a copy in the following words, viz.: “ $463 8-100. Phila. Oct. 14, 1839. Sixty days after date, we promise to pay to the order of David Hoopes, treasurer, $463 8-100 without defalcation, for value received. T. K. & P. G. Collins.” Endorsed David Hoopes, treasurer. W. P. Smith.” The defendants, in due time, filed the following…
1Opinion of the CourtGibson, C. J.
The Schuylkill Savings Institution is an unincorporated banking association; and it is illegal if the act of the 19th of March, 1810, is still in force. That act forbade unincorporated banks to issue their notes, to lend money on business or accommodation paper, to receive it on deposit; or to do q.ny act which an incorporated bank might do; and these prohibitions were unlimited as to duration. But an act was passed on the 21st of March, 1814, which created thirty-nine new banks, and which, having declared the contracts and notes of all unincorporated banks void, repealed the act of 1810 in…
2Cited by3 opinions
- People Ex Rel. Canajoharie National Bank v. Board of SupervisorsNew York Court of Appeals · 1876
- McClintick v. CumminsU.S. Circuit Court for the District of Indiana · 1843
- In re New York Institute for Deaf & DumbNew York Court of Appeals · 1890