Bank of Topeka v. Valk Manufacturing Co.

The opinion of the court was delivered by

Mason, J.:

The Bank of Topeka brought an action to foreclose a real-estate mortgage of which it had become the owner by purchase. The foreclosure was resisted by George W. Reed, who had purchased the land, on the ground that it was barred by the statute of limitation. The bank recovered judgment and Reed appeals.

The note and mortgage were executed February 19, 1909, and matured in three years from that date. The plaintiff acquired them July 1, 1909, the assignment to it being recorded May 4, 1911. A payment was made on the note February 19, 1913. Reed…