First National Bank v. Paff

Citations

• 240 Pa. 513
• 87 A. 841
• 1913 Pa. LEXIS 706

Syllabus

<p>Promissory notes — Defenses—Want of consideration — Burden of proof — Evidence.</p> <p>1. In an action by the holder against the maker of a promissory note, where it appeared that the note was given in consequence of a dispute as to whether the maker was liable as endorser upon another note of prior date which had been discounted by the holder of the 'note in suit but had become mislaid or lost, and where there was evidence to sustain a finding that the note in suit, was given in pursuance of an agreement by the holder that the defendant was not to be liable upon it if it should subsequently be discovered that he was not a party to the prior note, and a further finding that the defendant was not liable on the prior note and the jury so found, a verdict and judgment for defendant was upheld.</p> <p>2. In an action by the holder against the maker of a promissory note, where the plaintiff makes out a prima facie case by presenting the note and the defendant submits testimony showing a want of consideration, the burden shifts to the plaintiff to satisfy the jury under all the evidence in the case that the note was founded on a valuable consideration.</p>