County Trust Co. v. Finck

The plaintiff bank sues the defendant on a note; as to that there is no defense.

There is a counterclaim by the defendant based upon the bank’s alleged improper surrender of a life insurance policy on the defendant’s life which the bank was holding as collateral security to a loan (not the loan represented by the note upon which the plaintiff sues). As to the counterclaim, a detailed statement is necessary.

In December, 1947, the defendant gave his note to the bank in the sum of $9,300. This, apparently, was not a new loan but was a consolidation of outstanding loans. The note was payable on…