Harp Building & Loan Ass'n v. Sheehan

Citations

• 29 Pa. Super. 382
• 1905 Pa. Super. LEXIS 339

Syllabus

<p>Affidavit of defense — Building and loan association — Contract—Compensation of treasurer — Interest on deposits.</p> <p>In an action by a building and loan association against its treasurer to recover a balance alleged to be due the association from interest on moneys of the association deposited in bank, it appeared that the bond upon which the suit was brought provided that the treasurer should submit his books and accounts to the auditors of the association and pay over to his successor any balance found to be due. The affidavit of defense averred that the defendant had submitted his books and accounts to the auditors, and that the latter had found them to be correct; and that it was agreed that money from interest on deposits should be retained by the defendant as compensation for his services; and that a part of the credit for interest was not derived from funds of the association, but from private funds of the deponent. The affidavit did not suggest that the auditors had knowledge of the credit of interest on the books of the bank; nor did it show the time when, and the persons with whom the alleged agreement was made, or whether it was oral or written, or whether it was based on a resolution of the association or the verbal promise of one of its officers; nor did it show what amount of interest was derived from the treasurer’s private funds. Held, that the affidavit was insufficient to prevent judgment.</p>