Integrity Trust Co. v. Lehigh Avenue Business Men's B. & L. Assn.

Citations

• 267 Pa. 392
• 110 A. 93
• 1920 Pa. LEXIS 874

Syllabus

<p>Banlcs and bcmhing — Ghechs—Negotiable instruments — Defective endorsement — Guaranty—Failure to present in time — Affidavit of defense.</p> <p>Where a cheek was irregularly endorsed and payment refused for that reason and shortly after the bank failed, an affidavit of defense, in an action on the cheek, by the holder against the drawer, which avers that “plaintiff was grossly negligent in not collecting the check before the close of the full business day next succeeding that on which it was given to plaintiff, to wit, July 14th; that had the check been presented for payment......, properly endorsed, in accordance with the usual banking customs, on July 15, 1919, it would have been paid, as the balance standing to the credit of the defendant in the said bank on that day was” sufficient to pay the check, will prevent the entry of judgment.</p>