Helping Hand Building & Loan Ass'n v. Samuelson

Citations

• 21 Pa. Super. 134
• 1902 Pa. Super. LEXIS 322

Syllabus

<p>Building and loan associations — Mortgage—Judgment—Opening judgment.</p> <p>A judgment entered upon a scire facias sur mortgage sued out by a building and loan association will not be opened on the ground that the mortgage had not been given to the association which brought the suit, where it appears that by consent of all the stockholders of the association to which the mortgage had been given, including the defendant, the assets of that body had been handed over to the plaintiff association, which at the same time had assumed all the liabilities of the former body, and that such stockholders had treated the new corporation as the successor of the old, that the defendant had continued to pay his dues and interests to the new corporation for about four years after it was formed, and received statements showing that the new association was discharging the obligations of the old, and was relying for reimbursement upon the assets of which the mortgage in question was a part.</p>