Acker ex rel. First National Bank v. Delp

Citations

• 76 Pa. Super. 447
• 1921 Pa. Super. LEXIS 166

Syllabus

<p>National banks — Drafts—Bills of lading — Bight to purchase— Property rights in commodities.</p> <p>National banks have no authority to engage in the purchase of bills of lading. The purchase of drafts is clearly within their authority, and this includes drafts to which bills of lading are attached. Upon payment of such drafts every interest of the bank in the commodity represented by the bill of lading would be extinguished. But until the draft is paid, and where the purpose disclosed by the evidence is to enforce collection of the draft, the bank may enforce its property rights in an attached bill of lading even against the real owner of the property represented thereby.</p> <p>Bond — Foreign attachment — Assignability—Bight of action.</p> <p>A bond given to the sheriff and his assigns for his protection in executing a writ of foreign attachment is assignable to the use-plaintiff. Having procured an assignment of the bond the use-plaintiffs may proceed at once thereon. It is not necessary that suit be first brought against the sheriff and that he thereafter bring suit upon the bond.</p>