Bank of United States v. Frost

This is an action by the plaintiff on three notes made by the defendant in the aggregate sum of $700.

In his amended answer defendant, by way of counterclaim, alleges that the plaintiff loaned the defendant the sum of $1,500 against certain collateral security; that an agreement was thereupon made whereby the plaintiff, upon the request of the defendant, promised to sell the collateral, apply the proceeds thereof toward the payment of the loan and credit the balance, if any, to the defendant’s account; that thereafter defendant instructed the plaintiff to sell *590the collateral, apply the…