Pierson v. Swift County Bank

Taylor, 0.

Plaintiffs, residents of Muscatine, Iowa, made a contract to sell a farm in Swift county, Minnesota, to the Wilmers Land Agency of Benson in that county. The Wilmers Land Agency in turn made a contract to sell the farm to George B. Bingham. It was arranged that the deed should run direct from plaintiffs to Bingham, and that Bingham should give hack a mortgage to plaintiffs for the deferred part of the purchase price. A cash payment of $5,000 was to he made on March 1, 1920, at which time the deed and mortgage back were .to be delivered. On March 24, 1920, the land agency deposited…