Northwest Farmers Credit Ass'n v. Horswill

MISER, C.

The Northwest Farmers’ Credit Association, appellant herein, was engaged in the business of making loans to farmers. In 1924, it loaned to respondents Horswill $2,200, taking their note and chattel mortgage. In October, 192Ó, the Horswills required an additional $2,340 to buy cattle. They went to Pipe-stone, Minn., where the office of appellant was locatedi, signed notes for $4,800, and executed a chattel mortgage covering the property described in the mortgage of 1924, and the cattle to be purchased with $2,340 of the additional $2,600. The remaining $260 was to buy 26 shares of…