Globe Mutual Building & Loan Ass'n v. Schutte

Citations

• 29 Pa. Super. 265
• 1905 Pa. Super. LEXIS 309

Syllabus

<p>Building and loan associations — Dues and premiums — Mortgage debt— Appropriation of payments.</p> <p>Where the by-laws of a building and loan association provide that payments upon account of dues and premiums shall be credited on the stock, and the pass book of a member shows credits of weekly payments and profits to stock, the. member cannot, after having permitted such payments to be so appropriated and credited, claim that he had elected to have such payments appropriated to his mortgage indebtedness, and that such election on his part had been assented to by the association.</p> <p>While possibly an appropriation of dues and premiums to a mortgage indebtedness might be sustained under some circumstances, those circumstances should be such as to leave no doubt whatever as to the assent of both the association and the member to the agreement.</p>