Gutknecht v. Muscoda State Bank

In February, 1925, plaintiff held a first and second mortgage, the two aggregating about $10,400, against the farm belonging to the defendants Sorge, and the defendant bank held a third mortgage for about $1,200, and plaintiff then purposed foreclosing. An oral agreement was then made by all the parties concerned under which plaintiff took a new mortgage for $10,400 and withheld the threatened foreclosure; the Sorges were to remain in possession; they were to deposit at least fifty per,,cent, of the income from the farm with the defendant bank, which was to hold such deposits in trust to be…