Royal Union Life Insurance v. Hughes

One Hughes owned a farm of 120 acres in Black Hawk County, upon which the appellee held a mortgage of $12,000. Appellant held the legal title to certain property located in Cedar Heights, Iowa. The parties effected an exchange of properties. A written ./contract was entered into between them, on or about June 18, 1925. Said written contract provides thát said farm is to be conveyed to the appellant by a good and sufficient warranty deed, “except a mortgage of $12,000 held by the Royal Union Insurance Company of Des Moines, expiring May, 1927. ’ ’ Under said written contract, appellant’s…