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HANCOCK BANK v. ORLANDO (ET AL. (09/21/71)

decided: September 21, 1971.

HANCOCK BANK
v.
ORLANDO (ET AL., APPELLANT)



Appeal from order of Court of Common Pleas, Civil Division, of Allegheny County, April T., 1969, No. 5792, in case of The Hancock Bank v. Steve Orlando, Claire Keller and Edwin Sable.

COUNSEL

Stanley G. Makoroff, with him Stephen J. Laidhold, and Morris, Safier & Makoroff, for appellant.

Mord C. Taylor, Jr., with him Ruby, Nescott and Taylor, for appellee.

Wright, P. J., Watkins, Montgomery, Jacobs, Hoffman, Spaulding, and Cercone, JJ. Opinion by Watkins, J.

Author: Watkins

[ 220 Pa. Super. Page 2]

This is an appeal from an order of the Court of Common Pleas, Civil Division, of Allegheny County discharging a Rule to Show Cause why a judgment should not be opened.

The issues were determined by the court upon the following stipulation of facts.

"1. Plaintiff, The Hancock Bank, through its Board of Directors at a regular meeting in March of 1967, approved a Line of Credit for Little Miss Tomatoes, Inc., to be secured by guarantee of certain principal shareholders.

"2. On July 5, 1967, the Plaintiff Bank loaned to Little Miss $27,500.00 by check payable to Little Miss Tomatoes Company, which was deposited in Little Miss account in the Citizens National Bank of Berkley Springs, West Virginia. This loan was secured by the six month note of Theodore Feinman, Steve Orlando and E. A. Rittenhouse.

"3. Renewal notices showing principal and interest due, together with new notes for execution, were mailed to Little Miss Tomatoes, Inc., Box 278 Berkley Springs, West Virginia, by the Plaintiff Bank. The renewal

[ 220 Pa. Super. Page 3]

    notes executed, together with interest due, were returned by mail.

"4. A renewal note which was due January 5, 1968, was executed January 8, 1968, and mailed to the Bank together with ...


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