Jolley v. Idaho Securities, Inc.

*378McFADDEN, Chief Justice.

This action arises out of an agreement dated June 16, 1963, for the exchange of real and personal property executed by plaintiffs-appellants, Eldon W. Jolley and wife, and E. Dale Jolley and wife, and by the defendant-respondent Idaho Securities, Inc., a corporation, (herein referred to as the corporation.)

Prior to execution of this agreement, the Jolleys owned certain ranch land situate in Lemhi County, together with certain farming machinery. This ranch property was subject to a mortgage to Travelers Insurance Company. Being desirous of exchanging this property for…