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HEIGHTS v. CITIZENS NATIONAL BANK

463 Pa. 48 (1975)

342 A.2d 738

Edward A. HEIGHTS, Receiver of the Estate of Green Hills Lumber Co., Inc., Appellant, v. The CITIZENS NATIONAL BANK.

Supreme Court of Pennsylvania.

Decided July 7, 1975.

Rehearing Denied August 20, 1975.

Attorney(s) appearing for the Case

Harry R. Levy, Pittsburgh, for appellant.

Roy F. Walters, Jr., Pittsburgh, for appellee.

Before JONES, C.J., and EAGEN, O'BRIEN, ROBERTS, POMEROY, NIX and MANDERINO, JJ.

OPINION OF THE COURT

MANDERINO, Justice.

On March 15, 1962, appellee, Citizens National Bank (hereinafter referred to as "Citizens") and Green Hills Lumber Co. (hereinafter referred to as "Green Hills"), duly executed an agreement in which Citizens agreed to advance the sum of $60,000 on a term basis and additional sums, not to exceed $60,000, on a revolving credit basis. Under the terms of the agreement, Green Hills granted Citizens a security interest...

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