Adair v. Decker

Citations

• 34 Pa. Super. 153
• 1907 Pa. Super. LEXIS 97

Syllabus

<p>Promissory notes — Renewal notes — Payment—Agreement—Judgment note — Opening judgment — Collateral.</p> <p>Renewal notes do not constitute.legal payments of the debts represented by original notes, unless there is an express agreement of the parties to that effect.</p> <p>Where a judgment has been entered upon a judgment note, and subsequently a part of the judgment has been paid, and a renewal note given for the unpaid balance, the renewal note is entitled to the protection of the lien of the judgment until such note has been paid.</p> <p>Where a judgment' note is given to a partnership, and judgment entered thereon, and subsequently the partnership is dissolved, and its successor takes over its assets and agrees to pay its debts, and thereafter a part of the original note is paid, and a renewal note for the balance given, the successor to the partnership is entitled to the protection of the lien of the judgment until the renewal note is paid.</p> <p>Bankruptcy — Federal act — Debtor’s exemption — Pennsylvania insolvent act — Act of June 4,1901, P. L. 404 — Waiver of exemption.</p> <p>The provision in the 31st section of the Act of June 4, 1901, P. L. 404, relieving a debtor from the consequences of a waiver of exemption in any contract or judgment, does not apply to insolvents or the estates of insolvents in general, but only applies to insolvents who have taken advantage of the act.</p> <p>Property generally exempted by state laws from the claims of creditors, is not part of the assets of the bankrupt, and does not pass to the assignee, but such property must be pursued by those having special claims against it in the proper state tribunals. If it appears that the bankrupt has waived the exemption in favor of a particular creditor, and has not taken the benefit of the Pennsylvania insolvency act of 1901, the creditor may take in execution the exempted property set apart by the federal court.</p>