Merchants Nat. Bank of Crookston v. Giller

Action to foreclose a mortgage on appellants’ homestead. After a decision against them below, defendants, husband and wife, appeal from the order denying them a new trial.

The note bears date of July 22, 1915, is for $8,000 and matured September 22, 1915. The payee and mortgagee is A. D. Stephens who was the president of plaintiff, a national bank now in the hands of a receiver. The defense is alleged payment of the mortgage debt.

The finding upon which rests the decision for plaintiff is that the note and mortgage were taken by Mr. Stephens, not as security for any one loan, but as collateral…