Taylor v. Woelpper

Citations

• 71 Pa. Super. 589
• 1919 Pa. Super. LEXIS 158

Syllabus

<p>Contracts — Alleged novation.</p> <p>' Where a firm of stockbrokers is dissolved and a new firm assumes the payment of the debts of the old firm, and the new firm becomes insolvent and a receiver is appointed, the members of the former firm stand in the relation of surety to the creditors of the old firm, and they are not released from this liability because the creditors participate in a dividend in the receivership, ,as such participation is not a novation.</p>