Buter v. Slattery

Faville, C. J.-

Appellant owned a farm of 160 acres. In 1919 he sold the farm to the appellee Slattery for $165 per acre. There was a first mortgage on said premises of $10,000, which was later reduced to $8,000. The appellee gave the appellant a second mortgage on said premises for $12,000, which later, by an arrangement between the parties, was reduced to $8,000. This note and mortgage represented a part of the purchase price, and by their terms were due March 1, 1929. The appellant became indebted to the Dunlap State Bank on a note for the principal sum of $2500, which note was executed in…