Schwerdfeger v. Columbia Gesang Verein

Citations

• 26 Pa. Super. 515
• 1904 Pa. Super. LEXIS 344

Syllabus

<p>Affidavit of defense — Corporation—Practice, C. P.</p> <p>In an action against a corporation not'for profit, it appeared that suit was begun against the defendant on several certificates of indebtedness which, with others, had been issued to raise a fund for the construction of a building. The affidavit of defense averred that the certificates had been issued with the understanding and agreement that payment thereof could not be demanded, but that they should be paid out of any surplus by annual drawings. On the face of the certificate was. printed a resolution of the corporation to the effect “that any surplus remaining over after paying all expenses necessary for the maintenance of its property, or the welfare of the society, shall be applied to cancel outstanding certificates of indebtedness by annual drawings.” Held, that the affidavit was sufficient to prevent judgment.</p>