First & Farmers State Bank v. Soenen

OLSEN, Justice.

Appeal by plaintiff from an order denying his alternative motion for judgment in his favor or for a new trial after verdict for defendant.

The action is one by the commissioner of banks in charge of liquidation of the First & Farmers State Bank of Ghent to recover on a promissory note for $750 given by the defendant to the bank for the purchase of five shares of its stock. The note is dated October 19, 1931, due in six months, with interest at six per cent. The note is a renewal of a like note given April 20, 1931. At the time of the renewal defendant paid $22.50, the interest…