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LINCOLN BANK v. C & H AGENCY, INC.

500 Pa. 294 (1982)

456 A.2d 136

LINCOLN BANK, formerly Lincoln National Bank, Appellee, v. C & H AGENCY, INC., Appellant. and LINCOLN BANK, formerly Lincoln National Bank, Appellee, v. Clare CORKERY and John Corkery, Terre-Tenant, Appellants.

Supreme Court of Pennsylvania.

Decided December 31, 1982.

Attorney(s) appearing for the Case

James W. Pearson, Jr., Philadelphia, for appellants.

Jerome L. Markovitz, Philadelphia, for appellee.

Before O'BRIEN, C.J., and ROBERTS, NIX, LARSEN, FLAHERTY, McDERMOTT and HUTCHINSON, JJ.

OPINION OF THE COURT

FLAHERTY, Justice.

In February of 1966 John Corkery obtained a loan in the amount of $22,000 (Loan A) from Lincoln National Bank (hereinafter "the bank"). On the day of the loan, the bank obtained three promissory notes executed as follows:

(1) a note in the amount of $22,000 payable in twenty-two monthly installments signed "C and H Agency, Inc., John J. Corkery Pres." and also signed "John J. Corkery." Corkery is the president...

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