Cornelius v. The Bank

Citations

• 15 Pa. Super. 82
• 1900 Pa. Super. LEXIS 306

Syllabus

<p>Banks and banking — Discount of forged paper — Bight of bank to rescind.</p> <p>The maker of a note, with a forged indorsement, who had the same discounted by a bank and proceeds credited to his account, having died before maturity of the note, the bank, on discovery of the fraud, has a right to charge off the apparent balance due upon the account of the decedent, which is to withdraw the credit which had been given him when the contract was made.</p> <p>Rescission of contract — Tender of forged paper — Banks and banking.</p> <p>The indorsement being forged it was not necessary for. the bank upon the rescission of the contract to surrender the note and with it the evidence necessary to establish the bank’s position.</p> <p>' The proper course to pursue in a suit by the administratrix is for the trial court to impound the note, to the end that the interest of all parties may be protected.</p>