Blairsville National Bank v. Crabbs

Citations

• 44 Pa. Super. 454
• 1910 Pa. Super. LEXIS 195

Syllabus

<p>Banks and banking — Checks—Payment—Lien—Commercial paper— National banks — Act of May 16, 1901, P. L. 19Jf., sec. 27.</p> <p>1. In a suit by a national bank against the maker of a check where the plaintiff avers in its statement of claim that it is the “holder of said check for value paid in good faith and without notice,” and the affidavit of defense does not deny this but merely avers that the defendant gave the check in suit to the payee under the representation that the latter was going to a particular city to buy cattle, and that the defendant found out that he did not go, and thereupon stopped payment of the check, and it is admitted that the plaintiff bank had advanced to the payee the full amount of the check, the bank becomes entitled to a lien upon the paper for the full amount thus advanced, and under the Act of May 16, 1901, P. L. 194, sec. 27, must be deemed to be a holder for value to the extent of the lien.</p> <p>2. A national bank may lawfully acquire title to commercial paper, although it may be unable to show that it has made a profit upon the purchase of the paper.</p>