Security State Bank v. Klasey

Barnett, J.†

— Defendant appeals from an adverse judgment rendered in a suit on a note for $16,000, together with interest, attorneys’ fees and costs, and for foreclosure of a mortgage held as security.

The uncontroverted facts are that, in September of 1960, the Klasey Chevrolet Company (hereinafter called the corporation) was indebted to the Security State Bank, respondent here (hereinafter called the bank), in the near *431amount of $60,000, of which $16,000 was then due. This $16,000 obligation due the bank was comprised of loans and other items held by the bank.

The president and controlling…