Willamette Grocery Co. v. Skiff

On April 17, 1922, defendant Mark S. Skiff for a valuable consideration executed to Edna Ross his promissory note for the sum of $800, payable 90 days after date. On May 1, 1922, Edna Ross indorsed and delivered the note to the defendant bank as collateral security to secure a loan theretofore made by the bank to Edna Ross and her husband Wilburt J. Ross, upon which there was then due $604. After the maturity of the Skiff note, the bank, being unable to collect, instituted an action in the circuit court for Marion County, Oregon, and thereafter on March 31, 1923, recovered judgment by default…