Good Hope Building Ass'n v. Amweg

Citations

• 22 Pa. Super. 145
• 1903 Pa. Super. LEXIS 177

Syllabus

<p>Corporations—Building and loan association—Mortgage—Payment— Secretary.</p> <p>An agreement to accept anything but money, in satisfaction of a judgment held by a corporation, is not within the implied authority of the secretary of the corporation.</p> <p>Where the defendant in a judgment entered on a bond accompanying a building and loan association’s mortgage, executes a deed of the mortgaged property to -the association, at the suggestion of the latter’s secretary, and the secretary receives the deed and lays it before the directors of the association who refuse to accept it, the defendant cannot claim that the conveyance was payment of the judgment.</p>