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BLACKPIPE STATE BANK v. GRASS

No. 9817.

105 N.W.2d 442 (1960)

BLACKPIPE STATE BANK, Plaintiff and Respondent, v. Floyd GRASS, Defendant and Appellant.

Supreme Court of South Dakota.

October 21, 1960.

Attorney(s) appearing for the Case

Bangs, McCullen & Butler, H. F. Fellows, Rapid City, for defendant and appellant.

John W. Larson, M. Q. Sharpe, Kennebec, Frederick Cozad, Martin, for plaintiff and respondent.

BIEGELMEIER, Judge.

On February 20, 1951 John Morsett owed the plaintiff bank $8,989.98 secured by a chattel mortgage on livestock, farm machinery and other personal property; the loan was past due and under secured; one bank officer described it as "static"; the State Banking Department had criticized the loan and told the bank to get it off the books. As a result of some conversations Morsett gave a bill of sale of all...

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