Detroit Savings Bank v. Towers

Citations

• 42 Pa. Super. 246
• 1910 Pa. Super. LEXIS 322

Syllabus

<p>Promissory notes — Defenses—Notice—Evidence.</p> <p>Where several promissory notes are given to secure the deferred payments on a machine guaranteed by the seller, and three of the notes are discounted by a bank, the third subsequently to the payment of the first, the maker cannot defend in a suit by the bank on the third note, because the bank prior to the discounting of any of the notes had through its president, inspected the contract for the purchase of the machine showing the guaranty and the right of the purchaser to defend against the payee for a breach of the guaranty, and providing that the notes were to be “with discount.”</p>