First Nat. Bank of Goodwin v. Marshall State Bank

Appeal from an order sustaining a demurrer to the complaint.

It appears from the complaint that: Plaintiff holds a mortgage on lands in South Dakota owned by Rohweder, the mortgagor, who is a resident of Minnesota; the mortgagor gave a prior mortgage to defendant; the mortgagor paid a substantial sum to defendant to apply upon his mortgage indebtedness; defendant assigned the mortgage and the note secured thereby to one O’Connor, a resident of South Dakota; the assignment recites the full amount of the mortgage as a consideration and covenants that amount is unpaid; the mortgage and the…