Donohue v. First Trust Co.

This is an action against a bank for an accounting. The question raised by defendant’s motion is whether the Statute of Limitations has run. Plaintiff’s testator was indebted to the bank for money loaned. On October 11, 1934, the testator ‘ ‘ pledged ’ ’ as collateral to the loan an undivided one-half interest in real estate by conveyance of title to an officer-nominee of the bank.

After the testator died, the bank made demand on plaintiff as executrix for payment of the loan; and the loan not having been paid, the bank served a notice on her that on February 24, 1938, ‘ ‘ the collateral…