Pries v. Hurning

Peterson, Justice.

This is an action on a promissory note for $1,100 executed and delivered by defendants to one Knud. Pedersen as the difference between the amount due on a note secured by a mortgage on their farm, executed and delivered by them to him, and the amount received by him upon a mortgage loan made by the Federal Land Bank of Saint Paul to defendants. The loan was made for the purpose of paying the defendants’ secured and unsecured indebtedness and to provide a “reserve” of $300 for painting and repairing the buildings. The defense was that the note was void as against public'…