First National Bank of Fairbanks v. Taylor

OPINION

BONEY, Chief Justice.

The appellant, First National Bank of Fairbanks, (hereinafter “Bank”), was the plaintiff below. The Bank appeals from a superior court order dismissing its complaint. We have concluded that the court erred in granting a dismissal.

This appeal arises from an action on a note executed and delivered to the Bank by the defendant, Warren A. Taylor, on May 9, 1960. The note, in the amount of $21,-500, was due 96 days from execution. Security was provided by an assignment of contract also dated May 9, 1960. The assignment provided for the Bank to receive and apply to…