88 Pa. Super. 177 | Pa. Super. Ct. | 1926
Argued April 15, 1926. The plaintiff's cause of action is a promise in writing of the defendant in the form following:
"Ursina, Pa., April 10th, 1918
"$600.00/100
"Some time after date for Value received I promise to pay to Mrs. E.T. Wilker or order Six Hundred Dollars at ______ To bear interest at the rate of 4 per cent per annum from April 10th 1918 And further hereby agree that if this Note is not paid when due to pay all costs necessary for collections, including ten per cent for attorney's fees.
"Due to pay as fast M.L. Jenkins." as I can."
the consideration for which was a loan of $600 made at the time when the writing was executed. Interest on the indebtedness for one year was paid by the defendant. Nearly six years having elapsed without other payment having been made, this action was brought. After a verdict for the plaintiff, the trial court entered judgment for the defendant n.o.v., the basis of the decision being the lack of a definite time stated in the instrument for the payment of the note. The position taken by the plaintiff is that the obligation became due within a reasonable time, that the period intervening between the date of the note and *179
the time the action was brought was a reasonable time, and that the question of reasonable time is one for the court. The defendant admitting the debt and the promise asserts that the obligation is conditional; and not now enforceable because the condition had not arisen on which the maturity of the paper was to occur, he not being the owner of any property from which the sum of $600 could be collected. The verdict of the jury was in favor of the plaintiff on the issue joined, but the learned trial judge entertaining the view of the law as claimed by the defendant entered judgment for the latter n.o.v. The single question presented on the appeal is does the obligation above recited sustain the action? There can be no doubt that the body of the note contains a valid agreement, notwithstanding the fact that no date is fixed for its payment. It is no objection to the validity of a note that it has no time of payment mentioned: Thompson v. Ketcham, 8 Johnson 189; Frech v. Yawger,
The judgment is reversed and the record remitted to the court below with a direction to enter judgment on the verdict.