Chippewa County State Bank Ex Rel. Veigel v. Kief

Olsen, C.

Defendant appeals from the judgment herein.

The action was brought by A. J. Yeigel, as commissioner of banks in charge of the liquidation of the Chippewa County State Bank, to recover the sum of $6,500 and interest on a promissory note given by Phillip Kief to the bank in part payment for the purchase of 151 shares of the bank’s stock. Phillip Kief died during the pendency of the suit, and his administrator was substituted as defendant. For convenience Phillip Kief will hereinafter be referred to as defendant.

The defense interposed was that the purchase of the bank stock was induced…