Security State Bank v. Soule

This is an action to foreclose a mortgage. The defense relied upon is payment. The trial court entered a judgment dismissing the complaint, and plaintiff appealed.

Aside from the exceptions hereafter noted, there is not any conflict in the evidence, and the facts surrounding the transaction are not complicated. In January, 1912, Ralph W. Soule made application to B. A. Cumming for a loan, and on February 1 following, Soule and his wife executed their promissory note for $1,200, due five years after date, with interest at seven per cent per annum, payable annually. Each of the five interest…