200 A. 80 | Pa. | 1938
The court below made absolute a rule to open a judgment against defendant entered on a bond accompanying a mortgage. The bond is for $10,000 and the judgment amounts to $12,843.33. From the order making absolute the rule plaintiff appeals.
John W. F. Blizard and Isaac S. Grossman were indebted to the North City Trust Company. It demanded from them additional collateral and they arranged to create a mortgage on property they controlled. Instead of making the mortgage themselves, they had the property conveyed to defendant, Elizabeth F. Gearon, who was an employee of Blizard and, at his direction, she executed the mortgage and bond, which were made payable to Blizard and Grossman. She did not read the papers and was told by Blizard that she would be subjected to no liability or responsibility because of signing them. Blizard agrees and testified that he so told her. She received nothing as a result of executing the papers.
Blizard and Grossman assigned the bond and mortgage to the North City Trust Company, which were subsequently assigned to the Federal Reserve Bank. The latter entered judgment on the bond and issued an attachment against certain stock belonging to defendant, following which she applied to the court below to open the judgment and for leave to make defense. When the bond and mortgage were assigned to the Trust Company and to the Federal Reserve Bank, neither called upon defendant to execute declarations of no set-off and none was signed by her at any time. *67
Appellant, contending for liability of defendant, and that it was error by the court below to open the judgment, cites to us as sustaining its position such cases as Bank of Hooversvillev. Sagerson,
What was said by us in Friend v. Kuhn,
Order affirmed.