Stearns v. Carlson

Taylor, C.

Plaintiff, the holder of a note and mortgage given by defendant for the sum of $1,300, foreclosed the mortgage and bid in the property for $1,000 at the sale. He applied the proceeds of the property on the note and then brought suit thereon for the balance due. Defendant alleged as a defense that the property was of the value of $4,000 and that plaintiff had bid it in for a grossly inadequate amount. The court sustained a demurrer to the answer and rendered judgment for the balance due on the note. Defendant appealed.

Defendant does not question the regularity or validity of the…