Clinch Valley Coal & Iron Co. ex rel. Grove v. Willing

Citations

• 180 Pa. 165
• 36 A. 737
• 1897 Pa. LEXIS 896

Syllabus

<p>Evidence — Parol agreement — Promissory notes.</p> <p>The existence of a contemporaneous parol agreement between the pari ties under the influence of which a note or contract has been signed, whicl is violated as soon as it has accomplished its purpose in securing the exe-| cution of the paper, may always be shown when the enforcement of the; paper is attempted between the parties. I</p> <p>It is fraud to secure the execution of an instrument by representations as to the manner in which payment shall be made different in important particulars from those contained in the paper, and, after the paper has been signed, to attempt to compel literal compliance with its terms regardless of the contemporaneous agreement without which it would never have been signed at all.</p> <p>In an action upon promissory notes given to secure deferred payments for town lots and secured by trust deeds for the lots, an affidavit of defense is sufficient which avers that at the time the notes were executed a parol agreement was made that the lots should at once be reconveyed to a trustee who should hold them as a security for the sums due upon the notes, and exhaust the security thus furnished before the payment of the notes should be required of the maker, and that this agreement had not been carried out.</p>