Moberly v. Leonard

This is an action at law on a contract, brought on behalf of plaintiff banks, in liquidation. The contract was made in connection with the transfer of the assets and assumption of the liabilities of another bank in 1928. The court sustained defendants' separate demurrers to plaintiffs' petition, which set up the grounds that it failed to state a cause of action, and that it showed plaintiffs to have no right "to sue upon the alleged cause of action therein." Plaintiffs declined to plead further and from the judgment entered for defendants, plaintiffs appealed.

The material facts hereinafter…