Drake

The appellant is the voluntary liquidating agent of the Consolidated National Bank of Tucson, appointed in pursuance of the provisions of R.S. § 5220, 12 U.S.C.A. § 181 , by vote of two-thirds of the stockholders of the bank. The resolution appointing appellant was passed April 15, 1935, and on that day he gave the ap-pellee notice that he rejected and recognized no further liability under a lease hereinafter referred to. Subsequently, he brought this action against the appellee, who is the owner of the leased premises, for a declaratory judgment determining the rights of the bank in liquidation, ahd of the owner of the premises under and by reason of the terms of the lease which he had rejected. The appellee answered and set up a lease and asked for judgment for all rentals due up to the time of the filing of the answer and thereafter to be due under the terms of the lease and declaring the lease a binding 99-year obligation against the bank.

The District Court decreed that the lease was valid and subsisting and that the assumption of the obligations thereof by the Consolidated Bank “is valid and binding upon said the Consolidated National Bank and upon its liquidating agent.”…