Martin v. First State Bank, Memphis

ELLIS, Chief Justice.

This is an appeal from a judgment granting a summary judgment in favor of a bank, defendant-appellee herein, in an action brought by a plaintiff seeking recovery of sums allegedly due upon Certificates of Deposit purchased by him and deposited with the bank. The defendant’s motion for summary judgment sustained by the court was based upon the bank’s asserted right to offset the entire amount of such Certificates of Deposit against outstanding loans owing by third parties to the bank which the plaintiff had become obligated to pay. The plaintiff challenged the court’s…