Summary

Schuyler National Bank v. Gadsden…

Now it is no longer open to controversy that the provisions of the statutes of the United States forbidding the taking of real estate security by a national bank for a debt coincidently contracted do not operate to make the security void, and thus enable the individual who has contracted with the bank to defeat recovery, but simply subjects the bank to be called to account by the government for exceeding its powers.
Source: Wikisource

Get perspective with Kwize: daily news enlightened by great literature