First Trust Joint Stock Land Bank v. Kruse

This case is now before us after reargument and resubmission upon a rehearing. The action was brought for judgment upon a promissory note and the foreclosure of a mortgage securing same. The promissory note sued upon provided for amortized payments to be made on the first day of January and the first day of July in each year. The petition alleged the corporate capacity of the plaintiff, its authority to transact business in the state of Iowa, that the defendant makers of the note in question failed to make the payment due on the first day of January, 1932; alleged that the plaintiff had…