Lane v. Richards
Supreme Court of Iowa
Appeal from Blaoh Hawk District Gov/rt. — Acm. A. S. Blair, Judge. On the 15th day of November, 1886, Edward M. Johnson purchased an undivided one-half interest in a certain addition to Minneapolis for the sum of $30,536.75. $7,381.60 of this price was paid in cash by W. O. Richards and Allen T. Lane in equal parts, and a written agreement was entered into between Johnson on the one hand and Richards and Lane on the other, whereby Johnson became obligated to pay the balance…
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Appeal from Blaoh Hawk District Gov/rt. — Acm. A. S. Blair, Judge. On the 15th day of November, 1886, Edward M. Johnson purchased an undivided one-half interest in a certain addition to Minneapolis for the sum of $30,536.75. $7,381.60 of this price was paid in cash by W. O. Richards and Allen T. Lane in equal parts, and a written agreement was entered into between Johnson on the one hand and Richards and Lane on the other, whereby Johnson became obligated to pay the balance of the purchase price of the land, and also to repay to Richards and Lane all money which they put into the deal. Under…
1Opinion of the CourtSherwin, J.
The appellants claim that the contract of November 22, 1886, is of a dual character, — that it'is both a guaranty of performance on the part of Johnson, and a direct undertaking of indemnity on the part of Richards; while the appellee contends that it is a contract of guaranty only and that it was wholly without consideration.
*27i consideraSSTiff plT’ roi evidence, *26Section 3069 of the Code provides that “all contracts in writing signed by the party to be bound * * * shall import a consideration,” and the appellants urge that a valid consideration for this obligation is imported therein. *27If no…
2Cases cited4 opinions
- Chamberlain v. . DunlopNew York Court of Appeals · 1891
- Cox v. MartinMississippi Supreme Court · 1897
- Walker v. IrwinSupreme Court of Iowa · 1895
- DeGoey v. Van WykSupreme Court of Iowa · 1896
3Cited by10 opinions
- Banwart v. ShullenburgSupreme Court of Iowa · 1920
- Hubbard Milling Co. v. Citizens State BankSupreme Court of Iowa · 1986
- Rath v. SchoonSupreme Court of Iowa · 1921
- Dullard v. SchaferSupreme Court of Iowa · 1960
- J. Paul Yoder and Lowell Yoder v. Nutrena Mills, Inc.Court of Appeals for the Eighth Circuit · 1961
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