Thompson v. State Bank of Lisbon

Nuessle, J-

This is a statutory action to quiet title. The defend^ ant State Bank -of Lisbon answered. The other defendants defaulted. Tbe bank set up a certain mortgage covering the real property involved, and of which it was tbe assignee of record.

Tbe facts, briefly stated, are as follows: Plaintiff bought a farm from one Carlson and gave Carlson a note for $3,975, as part of tbe purchase price, secured by a mortgage on the farm. Carlson owed tbe bank. He pledged Thompson’s note and mortgage as collateral to this indebtedness and gave an assignment of tbe mortgage to tbe bank. This…