Jackson v. Polack

Philadelphia County Court of Common Pleas

Jackson v. Polack

2 Miles 362

Pennsylvania Court of Common Pleas, Philadelphia County·Decided January 11, 1840·Published·Cited by 1 cases

Opinion

Per Curiam.—

The affidavit of defence discloses that there was a failure of the consideration of the note as between the maker and the payee, and that the endorsee took it from the latter as a collateral security for an antecedent debt due to him from the payee. It was in no manner to be in satisfaction of the original debt till -paid. The endorsee does not then stand, in legal con[365]*365templation, as a bona fide holder, for a valuable consideration, so as to be freed from the equities between the maker and the payee. See 4 Whart. 258.

Rule discharged.

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Per Curiam.—

The affidavit of defence discloses that there was a failure of the consideration of the note as between the maker and the payee, and that the endorsee took it from the latter as a collateral security for an antecedent debt due to him from the payee. It was in no manner to be in satisfaction of the original debt till -paid. The endorsee does not then stand, in legal con[365]*365templation, as a bona fide holder, for a valuable consideration, so as to be freed from the equities between the maker and the payee. See 4 Whart. 258.

Rule discharged.

Jackson v. Polack, 2 Miles 362 (Pa. Super. Ct. 1840).

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Opinion

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