Love v. Rogers

At a time not definitely shown by this record, the Bank of Shelby closed its doors and went into the hands of appellant for liquidation under the state banking laws. At that time appellee was indebted to the said bank for two notes; one for five hundred dollars, due October 15, 1980, and one for three thousand eight hundred dollars, due November 15, 1930. Prior to its closing, the Bank of Shelby had pledged these two notes with a Memphis bank as collateral security for a loan obtained by the Shelby bank from the Memphis bank.

Having learned that these two notes were held by the Memphis bank,…