Graham v. Good

Citations

• 223 Pa. 565
• 72 A. 855
• 1909 Pa. LEXIS 576

Syllabus

<p>Promissory note — Receipt—Evidence.</p> <p>In an action upon a promissory note given under an agreement between the parties to the note in relation to the purchase of shares of a corporation, it appeared that at the time of the delivery of the note plaintiff gave the defendant a receipt acknowledging that he had received the note which was for thirty days in payment of the number of shares named, and agreeing that if the note was paid at the end of thirty days, he would deliver a certificate for the shares to defendant, and that the shares would then be the property of the defendant. Testimony for the plaintiff tended to show that the sale of the stock was complete and absolute, but that because of the defendant’s inability to pay for it at the time he requested the plaintiff to accept his note at thirty days; that the plaintiff agreed to do this after he had made inquiries as to' the defendant’s financial standing on condition that the stock, the certificate for which was in the name of a third party who had signed a blank power of attorney indorsed on its back, should be pledged with him as a collateral security; that the writing signed by the plaintiff was in pursuance of this agreement and was intended to express it, and that after the maturity of the note the defendant repeatedly promised to pay it. Held, that plaintiff’s evidence was sufficient to sustain a verdict and judgment in his favor.</p>