Allison v. Hollembeak

'On September 4, 1903, one Henry Principal executed and delivered to the defendant a promissory note for $3,500, payable on or before April 1, 1906. The note was payable by its terms to the order of defendant, and was in the usual form of negotiable promissory notes, save that on the back were written at the time of its execution these words: “ This note is secured by purchase money mortgage on one hundred and sixty acres of land in Guthrie County, Iowa, and payee herein agrees to look to mortgage security for payment of this note.” On November 20, 1903, in connection with some exchange of…