Iowa State Bank v. Rons

Henry Hymans was the owner of the land involved herein, subject to a mortgage of $31,000. He conveyed this land on March 1, 1920, to William Rons. Aside from the caSk Paymenbj Rons and his wife on that day executed a mortgage on this land for $26,000. Hymans had some contracts out on this land to other parties, which, so far as the principal question in controversy herein is concerned, are not material.

Through a loss in feeding cattle, Hymans and other parties became indebted to appellant bank in a large amount, and to secure the bank, he put up as collateral this $26,000 mortgage and its…