First National Bank v. Van De Putte

Plaintiff! appealed from an order denying its alternative motion for judgment non obstante or a new trial.

On March 10, 1931, defendant gave to the Marshall State Bank his promissory note for $450 due August 1, 1931. On April 29, 1931, this bank closed and passed into the hands of the commissioner of banks. Defendant then had in the bank $197.88 subject to check. On that day the Marshall State Bank had on deposit in plaintiff bank $530.44.

Plaintiff, holding defendant’s $450 note as collateral to a note given by J. V. Williams, prosecutes this action to collect of defendant, who seeks credit…