Fokken v. State Bank & Trust Co.

Plaintiff, who was the owner of a half section of land in Clark county, on which there was a mortgage to the Royal Union Life Insurance Company of Des Moines, applied to J. G. Wadsworth & Co. of Sioux Falls for a loan of $5,500, to be secured by a mortgage on the land, for the purpose of paying off the mortgage to the Royal Union Life. The application was transmitted through the State Bank & Trust Company of Watertown, and was so far completed on January 8, 1924, that on that date Wadsworth & Co. transmitted to the State Bank ■& Trust Company, 'by check, $5,416.40, that being the amount of…