Davis v. Eaton

Plaintiff and defendants Eaton made a contract dated January 8, 1929, for the exchange of the land in controversy in Ringgold County, owned by plaintiff, for land in Wyoming, owned by defendants Eaton. The Ringgold County land was to be taken by the Eatons subject to a first mortgage of $10,000 and a second mortgage of $4,600. By the contract “first party [plaintiff] guarantees renewal of both mortgages on his land, at no higher than present rate, for five years.” Possession was to be given on or before March 1, 1929, when the deeds were to be delivered, and plaintiff was to pay $1,600 to…