Western Pennsylvania Hospital v. Mercantile Library Hall Co.

Citations

• 189 Pa. 269
• 42 A. 183
• 1899 Pa. LEXIS 636

Syllabus

<p>Corporation—Mortgage—Suit by a bondholder—Judgment—Execution. Where a mortgage given by a corporation to a trustee stipulates that it shall be for the benefit and security of all the holders of the bonds to be issued, without any preference, priority or distinction as to lien or otherwise, but does not prohibit bondholders from bringing suit against the company, an individual bondholder may institute a suit and obtain judgment, but he will be restricted from issuing execution against the specific property pledged by the mortgage.</p>