Buhler Co. v. Chidester

Citations

• 262 Pa. 130
• 105 A. 52
• 1918 Pa. LEXIS 605

Syllabus

<p>Negotiable instruments — Promissory notes — Defenses—Payment.</p> <p>1. Where in an action on an accommodation note, the defense was that the note had been given as collateral security for a preexisting debt which had been paid, whereby the note was discharged, but where it clearly appeared from all the evidence that the note had been given in part payment of such indebtedness, and was regarded by all parties as a valid obligation for that purpose, a verdict should have been directed for the plaintiff. •</p> <p>2. In such case there is no merit in the contention that the terms pi a subsequent composition made by the principal obligor with its creditors extinguished plaintiff’s claimi when the former’s correspondence with plaintiff thereafter acknowledged the existence of the indebtedness.</p>