Austin v. Wortham

The appellant, Austin, as commissioner of banking, filed this suit against the appellee to recover on two promissory notes payable to the First State Bank of Paris. One was for $2,900 due January 1, 1927, and the other for $352.05 due July 1, 1926. Both notes provided for the payment of interest and attorney’s fees. It was alleged and proved that the First State Bank of Paris became insolvent and was closed by the commissioner of banking on May 26, 1926. In the trial below the execution of the notes sued on was admitted. The only defense presented was an offset, which is, in substance, as…