Gibson v. Keyes

Carr, the decedent, held a promissory note against Edward Green, secured by a mortgage upon a town lot. Appellee also held a promissory note against Green, to secure which a mortgage was given, but, by mistake, a lot not owned by Green was described therein instead of a lot which he did own. Wishing to exchange his town lots for a farm, Green requested Carr and appellee to surrender their-*569mortgages upon the lots and .take new mortgages upon the farm. To that they consented. Between Green and Carr it was agreed that his, Carr’s, mortgage, to be taken on the farm, should be first in time, and…