Love v. Dampeer

The appellants in charge of liquidation of the Crystal Springs Bank instituted suit against the appellees on a contract executed by them to the Crystal Springs Bank on October 20, 1926, at a .time when the bank was a going concern. The contract was made an exhibit to the hill of complaint and reads as follows:

“Whereas, the undersigned are stockholders and directors of the Crystal Springs Bank, Crystal Springs, Mississippi; and

“Whereas, the said bank has suffered certain losses on loans made by it, the exact amount of which losses cannot now he certainly defined; and

“Whereas, the State Banking…