Voort v. Farmers & Traders Bank

In the year 1916 the plaintiff, John Vande Voort, and his wife, conveyed a farm consisting of 120 acres to their son, Peter Vande Voort. The purchase price was $12,000. The son paid $1,000 in cash and secured the balance by a purchase-money mortgage of $11,000 on the property. Payments were made upon this mortgage from time to time, and in December, 1924, the amount due on the mortgage had been reduced to $9,000. On or about December 8, 1924, Peter Vande Voort, the son, applied to the l^armers & Traders Bank for a loan of $4,200. On that day plaintiff and his son met at the bank. Plaintiff…