Harrison v. Atlee

Citations

• 38 Pa. Super. 241
• 1909 Pa. Super. LEXIS 121

Syllabus

<p>Sale — Sale of bonds — Loan—Interest.</p> <p>1. Where a sale of bonds is accompanied by an agreement in writing by the vendor with the vendee that “we will carry the above bonds for you charging interest at the rate of six per cent,” the agreement does not constitute an obligation on the part of the vendor to carry the bonds for the vendee, so long as the vendee pays six per cent on the purchase price, but it constitutes either a demand loan, or at the most an agreement for the postponement of the payment for the bonds, for a reasonable length of time.</p> <p>2. In such a case where the vendors carry the bonds for fourteen months, and sell them after notice to the vendee, and then bring an action to recover the difference between the contract price and the price brought at the sale, and the vendee in his affidavit of defense raises no question as to the reasonableness of the time, the vendor will be entitled to judgment for want of a sufficient affidavit of defense.</p>