Oakes National Bank v. Farmers State Bank

Nuessle, J".

Plaintiff was a national bank, having its place of business at Oakes, North Dakota; defendant was a state bank located at Forbes, North Dakota. The plaintiff was a depositary of the defendant. Beginning August 30, 1918 and thereafter during several years, the defendant transmitted to the plaintiff and the plaintiff received and retained, numerous notes made by the patrons of the defendant to the defendant. When received by the plaintiff the defendant’s account was credited to the extent of the face of the notes. The notes drew interest at the rate of 10 per cent. When they became…