Oyster v. Short

Citations

• 177 Pa. 601
• 35 A. 711
• 1896 Pa. LEXIS 1021

Syllabus

<p>Banks and banking — Promissory notes — Discount—Deceivers.</p> <p>Where a bank discounts notes, and subsequently has the same notes discounted by another bank, the indorsement oí the first bank is a mere contingent liability which can never become absolute if the notes are paid at maturity by the makers, and the second bank has no right to include such notes with other unpaid notes, and claim from the receivers of the first bank a dividend upon the whole amount. The second bank, however, is entitled to a dividend upon rediscounted notes falling due after the receivers were appointed, which were either not paid at all, or only partially paid.</p>