Federal Land Bank of St. Paul v. Brakke

VANDE WALLE, Justice.

Chester A. Brakke and Alice M. Brakke appealed from an order striking the defense of payment from their answer in a mortgage-foreclosure action brought against them by the Federal Land Bank of St. Paul. We affirm.

The Brakkes’ defense of payment to the mortgage-foreclosure action was based upon the issuance of what is termed a “sight draft.” This “sight draft” provided for the payment of $105,271.03 “of credit on presentment ” to the Federal Land Bank. The “sight draft” also contained the notation that “This draft is redeemable in a certificate of credit, at full face…