Union Trust v. Nichols, Ltd.

OPINION OF THE COURT BY

KEMP, J.

On September 28, 1931, Samuel G. Wight and Agnes B. Wight conveyed to Union Title and Land Company, Limited (hereinafter called the land company), 19 acres of land on Molokai for a recited consideration of $6500. Of said $6500 J. S. Mackenzie, J. H. Fiddes and Rudolph Duncan paid $2750 and executed to the land company their joint and several promissory note for $3750, payable three years after date, together with 8% interest payable quarterly. On the same day the land company entered into an agreement with Mackenzie, Duncan and Fiddes (hereinafter called the…