Agricultural Credit Corp. v. Johnson

Respondent instituted this action to foreclose a certain mortgage made and executed toy the appellants. The facts are all stipulated, and the execution and 'delivery of the mortgage is admitted 'by appellants. The appellants principal contention is their claimed right to set off against the amount due under the terms of the note and mortgage certain deposits in the Murdo State Bank at the time that bank closed. The stipulated facts with reference to this claimed right of set-off will be detailed hereinafter. Appellants also seek in their answer to deny respondent’s ownership of the said…