Homewood Peoples Bank v. McCutcheon
Supreme Court of Pennsylvania
Homewood Peoples Bank v. McCutcheon, 266 Pa. 116 (Pa. 1920)
109 A. 873; 1920 Pa. LEXIS 515
Brown, Frazer, Kephart, Moschzisker, Simpson, Walling
Homewood Peoples Bank v. McCutcheon
Opinion of the Court
The note upon which this action was brought, dated June 12, 1903, was made by the appellee for the accommodation of Joseph R. Pauli, who at the time was president of the plaintiff bank. After the statute had run against the obligation, Pauli made payments on it, but not as agent of the appellee, and the latter did nothing acknowledging his continued liability. As to him the payments made by Pauli were insufficient to toll the statute: Coleman v. Fobes, 22 Pa. 156; Clark v. Burn et al., 86 Pa. 502; Wesner v. Stein and Greenawalt, 97 Pa. 322.
Judgment affirmed.
Reference
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- Syllabus
- Promissory notes — Accommodation note — Statute of limitations —Payments after statute has run — Accommodated party — Agency. Where a promissory note is made for the accommodation of another person, and such person, after the statute has run against the note, makes payments thereon, but not as the agent of the maker, and without the latter having done anything to acknowledge his continued liability, such payments are insufficient to toll the statute.