Jerke v. Delmont State Bank

Plaintiff instituted this action to recover from defendant bank the sum of $14,000 and interest, alleged to be the proceeds of a real estate loan negotiated by defendant bank for plaintiff. Defendant bank admitted the negotiation of the loan and the receipt of the proceeds thereof, but by way of counterclaim maintained that it was lawfully entitled to retain out of such proceeds of loan the sum of $10,828.80, being the amount due and unpaid upon four certain promissory notes executed by plaintiff and owned and held by the defendant bank. The plaintiff’s reply, in substance, admitted the…