Cedar Rapids Savings Bank & Trust Co. v. American Mortgage & Securities Co.

The propositions for our consideration arise upon rulings made relative to the pleadings. It is alleged in the petition, in substance, that the plaintiffs are the administrators of the estate of John L. Williams, who died intestate, June 20, 1927; that the defendant is a corporation for pecuniary profit; that, on or about May 4, 1920, the defendant sold to the decedent a "Charles C. Hanson loan," consisting of a $2,500 note, dated February 13, 1920, due March 1, 1925, and secured by a second mortgage upon certain real estate; that, as a part of the sale, and in consideration therefor, the…