M & S Construction & Engineering Co. v. Clearfield State Bank

HENRIOD, Justice:

Appeal from a judgment notwithstanding-the verdict, which judgment struck down a loan agreement as being offensive to the-statute of frauds relating to contracts not to be performed within a year. 1 Reversed' and remanded for a new trial, with no costs..

Plaintiff, M & S, as subcontractor for one Steenberg, agreed to perform certain excavation work. The defendant bank furnished initial monies as loans under an agreement which the jury found to be extant. The bank became apprehensive of its loan and in about two months refused any further advances. Steenberg took over and M & S…