Smith v. National Bank of Sayre

Citations

• 53 Pa. Super. 368
• 1913 Pa. Super. LEXIS 182

Syllabus

<p>Promissory note — Principal and surety — Collateral—Voluntary payment.</p> <p>In an action against a bank to recover the sum of $600 it appeared that some time prior to the suit the bank held as payee a demand note made by the plaintiffs for $2,000, and that the plaintiffs had voluntarily paid $600 cash to the bank and given a renewal note for the balance of $1,400. The plaintiffs contended and offered evidence tending to show that the real maker of the note was a contractor for whom they were merely sureties or guarantors, that the contractor was the real debtor of the bank, that the bank knew this and had taken an assignment by the contractor of $2,000 owing to the latter as collateral for the payment of the note. Held, that it was for the jury to determine what was the real transaction between the parties, and whether it was altogether different from that which appeared on the face of the papers as they were made.</p>