Ruden v. City of Platte

The sole question presented on this appeal is the validity and enforceability of a certain real estate mortgage or trust deed given by Farmers’ State Bank of Platte to the city of Platte, a municipality.

All the facts are stipulated and those essential to an understanding of the case may be stated as follows:

On and prior to November 5, 1928, Fanners’ State Bank of Platte was a banking corporation under the laws of this state engaged in business in the city of Platte. Said city, a duly incorporated municipality, had on deposit in the bank at that time a considerable amount of money. The city…