O'Connor v. Schwan

DEVANEY, Chief Justice.

In 1927 plaintiffs, husband and wife, were the owners of a certain tract of agricultural land situated in Blue Earth county, Minnesota. On March 17 of that year they executed to defendant Schwan a $15,000 note due in five years and secured the payment thereof by executing a mortgage on said tract of land. On February 1, 1932, close to the expiration of the five-year period, plaintiffs had not paid said note and further were indebted to defendant Schwan in the sum of $206.52 for 1931 taxes and $1,237.54 for defaulted interest. The parties entered into negotiations…