Korb v. Minneapolis Threshing Machine Co.

The opinion of the court was delivered by

Hutchison, J.:

The question involved in this appeal is the priority of the liens of two mortgages depending upon the construction to be given to a subsequent stipulation signed by the maker of the mortgages and the appellee, who holds the mortgage designated as first.

One Ed Smith, the owner of a quarter section of land in Jewell county, gave a first mortgage thereon to Korb in April, 1926, and the same day gave a second mortgage thereon to Stansbury, both of which were promptly recorded and became liens on the land. Five months later Smith gave a…