Metropolitan Nat. Bank v. Merchants & Manufacturers Bank
Supreme Court of Pennsylvania
Metropolitan Nat. Bank v. Merchants & Manufacturers Bank, 155 Pa. 20 (Pa. 1893)
25 A. 764; 1893 Pa. LEXIS 1170
Green, Heydrick, McCollum, Mitchell, Paxson, Sterrett, Williams
Metropolitan Nat. Bank v. Merchants & Manufacturers Bank
Opinion of the Court
We need not discuss the question, whether the agreement by the defendant bank to pay the note for §714.14 held by the
The referee has decided the case upon another ground which we think sufficient, viz.: “ That the plaintiff released defendant from its promise to pay said note on its settlement with the Falls Wire Manufacturing Company.”
The specifications of error are to the findings of facts by the referee. They do not require discussion.
Judgment affirmed.
Reference
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- Promissory notes—Pelease—Findings of referee. Defendant, a bank, promised to pay a note due by a third person to plaintiff, a bank, if plaintiff would not proceed on the note. The debtor was also liable to both plaintiff and defendant on various other notes. Subsequently defendant compromised its claims against the debtor, including the note in controversy. A referee found that plaintiff had released defendant from its promise to pay the note, by reason of its settlement with the debtor. Held, that there was no error in entering judgment for defendant.