Bank of America National Trust & Savings Ass'n v. Cottrell

The appellant, in its capacity as the duly appointed conservator of the estate of Mrs. Leola Slaven, filed its complaint in this action for declaratory relief to determine the rights and duties of the parties with respect to a promissory note executed by the respondent, Lola St. John, and subsequently irrevocably delivered by the payee, Mrs. Slaven, to the respondent, C. C. Cottrell. The complaint alleged that the bank, as conservator, had a duty to possess and hold the note and to enforce the same according to the terms thereof for the benefit of Mrs. Slaven; that at the time of the delivery…