Baird v. Kilene

Plaintiff, as receiver of the First Farmers State Bank of Minot, brought suit upon a promissory note executed by the defendant to the Savings Loan and Trust Company, hereinafter referred to as the company, and by it sold and transferred to the bank. The defense mainly relied on is failure of consideration, it being asserted that the capital stock for the purchase price of which the note was given, was never, in fact, delivered to the defendant by the company, and that no stock certificate was issued to him.

The case was tried to a jury, but a motion for a directed verdict having been made by…