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LEBANON VALLEY NATIONAL BANK v. HENNING (ET AL. (01/09/70)

decided: January 9, 1970.

LEBANON VALLEY NATIONAL BANK
v.
HENNING (ET AL., APPELLANT)



Appeal from judgment of Court of Common Pleas, Civil Division, of Lebanon County, March T., 1967, No. 716, in case of Lebanon Valley National Bank v. Kenneth E. Henning.

COUNSEL

Thomas A. Behney, for appellant.

No argument was made nor brief submitted for appellee.

Bell, C. J., Cohen, Eagen, O'Brien, Roberts and Pomeroy, JJ. Mr. Justice Eagen dissents. Mr. Justice Jones took no part in the consideration or decision of this case. Dissenting Opinion by Mr. Justice Roberts.

Author: Per Curiam

[ 436 Pa. Page 446]

Judgment affirmed on the authority of Commonwealth v. McLaughlin Contracting Co., 293 Pa. 313, 142 Atl. 274 (1928); Pacific Lumber Co. v. Rodd, 287 Pa. 454,

[ 436 Pa. Page 447135]

Atl. 122 (1926); Shapiro v. Malarkey, 278 Pa. 78, 122 Atl. 341 (1923), and Rose v. Cohen, 193 Pa. Superior Ct. 454, 165 A.2d 264 (1960).

Disposition

Judgment affirmed.

Dissenting Opinion by Mr. Justice Roberts:

This case involves the validity of a confession judgment entered without averment of default and for the total accelerated amount of the debt pursuant to a warrant of attorney contained in an installment judgment note. The note itself is relatively short, consisting of only six paragraphs, most of them no more than a sentence long. The first two paragraphs state that the face amount of the debt is $39,715.00, that the debt is to be paid in twenty-nine monthly installments of $1324.00 each, and that there is a delinquency charge of $.05 per dollar for each payment which is more than fifteen days late. The third paragraph contains an acceleration clause, which says that: " In case of default in the payment of any installment as the same becomes due and payable, the entire balance due hereunder shall, at the option of the holder, at once become due and payable without demand or notice to me, us or either of us." (Emphasis added.) The fourth paragraph sets forth those items which serve as collateral for the loan and permits the lender to take possession of and/or sell the collateral in the event of a default. The fifth paragraph provides for the confession of judgment and reads as follows:

"And further, I/We or either of us do hereby empower any attorney of any Court of Record within the United States or elsewhere, to appear for me, us or either of us and with or without one or more declarations filed, confess judgment against me, us ...


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