Superior Court of Pennsylvania, 1915

Stoddard v. Blackman

Stoddard v. Blackman
Superior Court of Pennsylvania · Decided July 21, 1915 · Head, Kephart, Orlady, Rice, Trexler
60 Pa. Super. 371; 1915 Pa. Super. LEXIS 200

Stoddard v. Blackman

Opinion of the Court

Opinion by

Trexler, J.,

The case was tried without a jury. The learned trial judge found that the borrower assigned Ms shares of stock to the association absolutely, when he obtained the loan. He thus ceased to be a stockholder and thereafter the relation between the parties was that of debtor and creditor. We have held in Washington National Building & Loan Association against Thomas in an opinion this day filed, ante, p. 177, that all that the association can recover under such circumstances from the borrower, is the amount of the debt and interest.

Judgment affirmed. Appellant for costs.

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