Peterson v. Baird

During all the time involved the plaintiff was the president of the Security State Bank of Wildrose. On January 31, 1929, the bank closed because of insolvency, and defendant has been receiver ever since.

Plaintiff alleges that on December 20, 1928, at the solicitation of the cashier of the bank, he assigned to the bank his interest in a contract for deed for the sole purpose of restoring “the cash reserve of said bank and thus avoid the suspension of business” and for no other consideration; that said contract was not xised to increase the cash reserve of the bank, bxxt has been kept and…