Fox v. Young

Kenworthey, J.,

Opinion by

On August 16,1937, appellant, receiver of the Farmers National Bank of Freeport, filed a petition in the lower court for authority to sell the remaining assets of the bank for $100. The court directed the sale to be advertised, bids were submitted in open court and, on August 28, 1937, the sale to appellee for the sum of $290 was approved.

More than two years later, on November 15, 1939, appellant discovered that one of the judgments included among the assets sold, and which had been considered worthless, was at the time of the sale worth $2,300 to $2,800. He thereupon…