Panebianco v. Berger

Redick, District Judge.

The action is one for the rescission of an executed exchange of improved real property in the city of Omaha for 400 acres of land in Holt county, Nebraska. The plaintiff was the owner of the Omaha property, which was put into the exchange at the agreed price of $12,000, subject to a mortgage of $4,000, and the defendant was the owner of *335the land, which was put in at the agreed price of $16,000 and was clear of incumbrance, the difference between'the equity of the plaintiff and the value of the land, $8,000, to be secured by a mortgage upon the land. Before the exchange…