Brown v. Pettit

Citations

• 178 Pa. 17
• 35 A. 865
• 1896 Pa. LEXIS 1127

Syllabus

<p>[Marked to be reported.]</p> <p>Banks and banking — Promissory notes — Partnership—Notice—Discount.</p> <p>Where a partner makes a promissory note in his own name payable to the order of his firm, indorses the name of the firm on the note, and requests a bank to discount the note and place the proceeds of the discount to his personal credit on the books of the bank, the bank has notice of such irregularity as imposes upon it the duty of inquiry as to whether the maker had authority from the firm to indorse the note with the firm name and procure its discount for his personal use. Cooper v. MeClurkan, 22 Pa. 80, and Tanner v. Hall, 1 Pa. 417, followed. Haldeman v. Bank of Middletown, 28 Pa. 440. Ihmsen v. Negley Mohan & Co., 25 Pa. 297, distinguished.</p>