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The Supreme Court of Pennsylvania ruled in favor of the defendants in Dana vs. the Bank of the United States, upholding the validity of a May 1, 1841, assignment securing advances to Philadelphia banks. Other 1841 assignments were not addressed.
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IMPORTANT DECISION.
Dana vs. the President, Directors & Company, of the Bank of the United States, defendants, and James Dundas and others garnishees.
In this case, the Supreme Court of Pennsylvania yesterday pronounced their judgment in favor of the defendants, thereby sustaining the validity of the assignment made to secure the Banks of Philadelphia for the advances made by the Bank of the United States, dated the 1st May, 1841, commonly known as the assignment made to secure the Banks of Philadelphia for the advances made by them to the Bank of the United States. The validity of the assignment of the 7th June, and 4th and 6th September, 1841, was not brought into question, and the Court abstained from any opinion on their effect.
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Pennsylvania
Event Date
1841
Story Details
Supreme Court of Pennsylvania judgment in favor of defendants, sustaining validity of May 1, 1841 assignment for securing Philadelphia banks' advances to Bank of the United States; other assignments not questioned.