Schoedel v. State Bank of Newburg

The State Bank of Newburg is situated in the village of Newburg, and defendant, Isselman, is its cashier. Plaintiff resides in the state of New York. On March 16, 1931, Charles Schoedel, as agent for plaintiff, went to defendant bank looking for the purchase of a first mortgage on farm property. The bank owned a mortgage on the Fahney farm dated January 27, 1922, and recorded January 28, 1922. Charles Schoedel bought it for plaintiff upon defendants’ representation that it was a first mortgage. In fact, there was another mortgage upon the same farm dated and recorded April IS, 1929, anda…