Wayne Title & Trust Co. v. Treat

Citations

• 269 Pa. 303
• 112 A. 679
• 1921 Pa. LEXIS 552

Syllabus

<p>Promissory notes — Accommodation maker — Affidavit of defense —Indebtedness to banking institution in excess of ten per cent of capital and surplus — Banks and banking — Act of June Ik, 1901, P. L. 561.</p> <p>In an action by a trust company on a promissory note against tbe maker, an affidavit of defense is insufficient which, avers that defendant was an accommodation maker, and that the note was given to conceal the fact that the party for which it was made was indebted to plaintiff in excess of ten per cent of its paid up capital stock and surplus, contrary to the Act of June 14,1901, P. L. 561.</p>