Excelsior Saving Fund & Loan Ass'n v. Fox

Citations

• 253 Pa. 257
• 98 A. 593
• 1916 Pa. LEXIS 818

Syllabus

<p>Judgments — Confessed judgments — Opening of judgments — Parol evidence rule■ — Contemporaneous verbal agreement — Building associations.</p> <p>1. Where at the execution of a -writing, a stipulation has been entered into, a condition annexed, or a promise made by word of mouth, upon the faith of which the writing has been executed, parol evidence is admissible, though it may vary and materially change the terms of the contract.</p> <p>2. Upon the hearing of a petition for the opening of a judgment entered by confession upon a bond conditioned for the payment of $3,000.00, it appeared that such bond accompanied a second mortgage given by petitioners to a building association; that at the time of the execution of the instrument, a first mortgage had been given by petitioners upon the property for $4,000.00 with a subscription to 20 shares of stock of the association, that there was a parol agreement on the faith of which the mortgages were executed, that the principal of the second mortgage should not be called until the first mortgage had been paid by the maturing of the shares of stock in defendant association; such stipulation was not included in the writing and the second mortgage was made payable one year from date. Held, the lower court did not err in opening the judgment.</p>