Boone v. Pierce

HALE, Justice,

Appellants, as owners of the corporate stock of a bank in liquidation, sought by this suit to recover on five promissory notes in the principal aggregate sum of $1500 and to foreclose their asserted liens on certain land securing the payment thereof. Appel-lees denied liability on the notes and by way of cross action sóught a cancellation of the notes and liens asserted upon the, ground, among others, that such instruments were void, invalid and unenforceable because the agreement evidenced thereby was in violation of the Federal Emergency Farm Mortgage Act of 1933.

The case was…