Scheeline Banking & Trust Co. v. Stockgrowers & Ranchers Bank

OPINION

By the Court,

Coleman, C. J.:

This is an appeal by Stockgrowers & Ranchers Bank of Reno, T. O. Ward, and J. D. Cameron from an order denying a motion to vacate and set aside a judgment and to quash an execution.

On December 31, 1923, the banks entered into a written agreement for the sale by defendant bank to plaintiff bank of all of its assets. Simultaneously with the execution of that agreement, the defendant bank, as principal, and T. O. Ward, J. D. Cameron, and John Poco, as sureties, made, executed, and delivered to plaintiff bank an undertaking in the sum of $40,000 to protect the…