Franklin Trust Co. v. Goerke

The opinion of the court was delivered by

Boduste, J.

The appellant brought this action to recover the balance due upon a demand note secured by collateral. Eespondent admitted the execution of the note, but denied liability thereon and recovered by way of counter-claim the losses which he had sustained by reason of the alleged negligent failure of the bank to sell his collateral at a time when it would have brought sufficient to have more than liquidated the amount of his indebtedness. The theory upon which recovery was had was that the bank was negligent in not having sold the collateral when…