Bank of Doerun v. Fain

D. A. Fain brought an equitable action against the Bank of Doerun. The allegations of the petition were to the following effect: In 1914 the firm of D. A. Fain & Son, composed of petitioner and his son, J. A. Fain, was engaged in the business of selling live stock, vehicles, fertilizers, etc. J. A. Fain had general charge and supervision of the business. In that year, acting for the partnership, J. A. Fain obtained two loans from the Bank of Doerun, one for $3500, the other for $1800, and, as collateral security for the notes, delivered to the bank a large number of notes payable to the firm,…