Engen v. Sheridan County State Bank

Taylor, C.

The Hickson State Bank of North Dakota brought this action against the Sheridan County State Banki of Plentywood, Montana, to recover the amount of three promissory notes sold by the latter to the former under an agreement to repurchase them at maturity. Both banks are now in the hands of receivers, but for convenience will be designated as plaintiff and defendant respectively. The trial court directed a verdict for plaintiff, but subsequently rendered judgment for defendant notwithstanding the verdict on the ground that the agreements to repurchase merely gave plaintiff “an option…