Fisher v. Davis

Opinion by

Mr. Justice Simpson,

At the time the Agricultural Trust Company became insolvent and went into the hands of the commissioner *131of banking, it and defendant had each a claim against the other, but the account between them had not been adjusted. He was indebted to it upon two promissory notes aggregating $5,500, and it was liable to him for the value of $8,000 in Liberty Bonds, which it had sold for him, but the proceeds had been embezzled by its secretary and treasurer.

At the trial of this suit, brought by the commissioner upon those notes, defendant claimed the right to set-off the…