Allen v. First N. Bank
Citations
- 127 Pa. 51
- 17 A. 886
- 1889 Pa. LEXIS 1078
Syllabus
<p>[To be reported.]</p> <p>1. The cashier of a national bank, holding the paper of a firm of which the cashier is a member, has no power to bind the bank by an agreement that there shall be no liability upon an accommodation note procured by him to be substituted, for a special purpose, for the indebtedness of his firm.</p> <p>2. Nor may the accommodation maker defend upon the ground that his note was procured by the cashier, a member of such debtor firm, to cover up from the bank examiner, by such substitution, the fact that the bank had loaned to the firm in excess of ten per cent of its capital stock.</p> <p>3. It is no defence to the maker of an accommodation note discounted by a bank, that the bank had discounted paper of another person or firm to an amount exceeding the one tenth of its capital: OTIare v. Second N. Bank, 77 Pa. 96; Mapes v. Second N. Bank, 80 Pa. 163.</p>
How courts have described this case
Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.
- declaring that the provisions of the Public Welfare Code requiring a victim of a sexual offense report the crime within a specified time period were violative of the victim’s right to privacy as guaranteed by the Pennsylvania Constitution
- “It is not within the jurisdiction of this Court to rule on the wisdom of legislative enactments. ‘The judiciary may not sit as a super legislature to judge the wisdom or desirability of legislative policy determinations . . . .’”
Source: CourtListener parenthetical corpus (CC0).
Judges: Clark, Green, Mitchell, Paxson, Sterrett
Read full opinion on CourtListenerSourced from CourtListener / Free Law Project (CC0).
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