Estate of Tasker

Citations

• 182 Pa. 122
• 37 A. 924
• 1897 Pa. LEXIS 779

Syllabus

<p>Promissory notes — Accommodation note — Renewals—Banks and banking.</p> <p>A bank cannot recover from the maker of a promissory note, where it appears that the note was the last of a series of renewals of an original note which had been made and loaned as an accommodation to the bank. It cannot be assumed, in the absence of testimony, that if a note is renewed for a number of times, it never was a loaned note.</p> <p>Accommodation note — Renewals—Evidence.</p> <p>Where a witness testifies without contradiction that the note in suit was loaned to the bank without consideration, and the books of the bank are not produced to show that a consideration passed, the mere fact that the note was renewed from time to time will not support a finding that the testimony of the witness was untrue, and thereby permit the bank to recover.</p> <p>Banks and banking — Loan of note — Fraud—Evidence.</p> <p>The mere fact that a note was loaned to a bank when it was being reorganized, upon the allegation of the president that it “ needed paper,” does not prove that the note was intended for an unlawful purpose, or that the maker was assisting to fraudulently deceive the bank examiner, and that he is thereby estopped from setting up the want of consideration as a defense to the note.</p>