Andrew v. Ingvoldstad

Kindig, J.-

On, and for some time before February 15, 1916, the defendant-appellee Walter Ingvoldstad owned a half section of land in Hand county, South Dakota. The land was covered by a mortgage. Some time before February 15, 1916, the mortgage became due, and proceedings were instituted by the mortgagee to foreclose the same. While the action was thus pending, the appellee Walter Ingvoldstad commenced negotiations with the Winneshiek County State Bank of Decorah, Iowa, for a loan in order to pay the mortgage indebtedness on the South Dakota land. This loan, according to the negotiations, was…