Federal Farm Mortgage Corp. v. Noel

Plaintiff commenced this action at law to recover a'deficiency resulting from the sale of mortgaged property. The foreclosure was conducted by advertisement under a power of sale contained in the mortgage. The defendants filed an answer, and alleged in part substantially the following facts: That at the. sale which was held at io o’clock in the morning there 'were no bidders other than' the plaintiff, who^ at the time was the holder of the obligation setüred by the mortgage’; that in the immediate vicinity of this land and throughout the entire state there existed an agricultural depression .…