Elmo State Bank v. Hildebrand

The opinion of the court was delivered by

Porter, J.:

The bank recovered judgment against C. M. Hildebrand on a promissory note, and he appeals.

Hildebrand gave his note for $367.50 in payment of premiums for policies of insurance issued by the Topeka Mutual *706Live Stock Insurance Company upon live stock owned by him. He claims that there was no consideration for the note, and that the bank was not a purchaser in good faith. On September 9,1915, at the time the policies were issued, the Topeka Mutual Live Stock Insurance Company was insolvent. The losses under Hildebrand’s policies amounted to…