Traverse City Depositors' Corp. v. Case

Bill of complaint in this case was filed to enforce payment on a $1,000 note executed August 2, 1933, by Joseph M. Crotser, Ralph Case and W. P. Crotser, as trustees of the estate of Joseph O. Crotser, deceased. The First-Peoples State Bank, payee, transferred the note to plaintiff, Traverse City Depositors’ Corporation, for liquidation. In 1936, the three above-named trustee defendants were succeeded by Clyde W. Overholt as sole trustee and he is joined as defendant solely in his present capacity as trustee. The plaintiff seeks to hold the trust estate liable for the note, or, in the event…