Sieger v. Second N. Bank

Citations

• 132 Pa. 307
• 19 A. 217
• 1890 Pa. LEXIS 813

Syllabus

<p>1. Where one, as indorser, procures the note of another to be discounted by a bank for his credit, and at the time the discount is effected makes a distinct promise to the bank to pay the note at maturity, his liability is absolute, not conditional, and protest and notice of non-payment are unnecessary.</p> <p>2. The maker of a note having a deposit at a bank where the note has been discounted for an indorser, the note itself, however, being payable at another bank, the indorser is not relieved from liability by the failure of the bank to apply the maker’s deposit to the payment of the note at its maturity.</p>