Bank Of America National Trust And Savings Association V. Greenbach

This action was commenced by the bank against Greenbach and others to set aside the settlement, for a fraction of its face value, of a judgment against Greenbach, held by the bank, on the ground that such settlement had been secured by the fraud and misrepresentations of Greenbach. Over the vigorous objection of defendants that they were entitled to a jury trial, the cause was tried before the court without a jury. Judgment was entered decreeing that the settlement should be set aside because of fraud in its procurement, and awarding to the bank a money judgment for a portion of its demand. The judgment also ordered the other named defendants to apply the property in their hands belonging to Greenbach in satisfaction of the judgment. From this judgment all the defendants and the bank appeal.