National Citizens Bank v. McKinley
Supreme Court of Minnesota
Action in the district court for Blue Earth county to determine the indebtedness of defendants Monks & McKinley and George W. Monks to plaintiff bank and to the First National Bank of Mankato, and to foreclose the mortgage mentioned in the opinion. The case was tried before Olsen, J., of the Ninth judicial district, who made findings and ordered judgment in favor of plaintiff. The findings were amended upon the motions of plaintiff and of defendants Hoerr and McKinley.
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Action in the district court for Blue Earth county to determine the indebtedness of defendants Monks & McKinley and George W. Monks to plaintiff bank and to the First National Bank of Mankato, and to foreclose the mortgage mentioned in the opinion. The case was tried before Olsen, J., of the Ninth judicial district, who made findings and ordered judgment in favor of plaintiff. The findings were amended upon the motions of plaintiff and of defendants Hoerr and McKinley. From the judgment entered pursuant to the order for judgment, defendant Iioerr appealed.
1Opinion of the CourtHallam, J.
Monks and McKinley were partners. Monks owned a piece of land. By written contract it was agreed he should turn this land over to the partnership. In consideration thereof McKinley agreed to pay him $2,500, and gave his notes for that amount. It was agreed that when the notes were paid Monks should give a deed conveying a half interest in the land to McKinley, - but that the-land should at once become a partnership asset. Later on the partnership owed plaintiff bank a considerable amount represented by several promissory notes. On some of these notes defendant Hoerr was indorser and on some…
2Cases cited3 opinions
- Crookston State Bank v. LeeSupreme Court of Minnesota · 1913
- Sterling v. BockSupreme Court of Minnesota · 1889
- Masterman v. Lumbermen's National BankSupreme Court of Minnesota · 1895
3Cited by8 opinions
- Windom National Bank v. KleinSupreme Court of Minnesota · 1934
- Engenmoen v. LutroeSupreme Court of Minnesota · 1922
- Farmers Co-Operative Assn. of Bertha v. KotzSupreme Court of Minnesota · 1946
- Grager v. HansenSupreme Court of Minnesota · 1925
- Lanesboro State Bank v. FishbaugherCourt of Appeals of Minnesota · 1986
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