First State Bank v. Tobin

This action is based upon three promissory notes, executed by the appellees to the Riverside Savings Bank. One of the notes was in the principal sum of $1,500, bearing date November 27, 1922; another note was in the principal sum of $200, bearing date, August 15, 1923; and the third note was in the principal sum of $2,00, bearing date, March 29, .1923.

During the fall of 1923, the Riverside Savings Bank ceased operations as a bank, and the appellant bank was shortly thereafter organized, and began doing business. An arrangement was entered into, whereby a considerable portion of-the Riverside…