Milwaukee Corrugating Co. v. Traylor

*563The opinion of the court was delivered by

Porter, J.:

On June 17, 1913, the defendant, E. L. Traylor, president of a bank at Lebo, and Frank Anderson, a merchant in the same town, entered into a contract by which Anderson traded a stock of merchandise to Traylor for one hundred sixty acres of land, the land to be taken at $45 an acre, the goods and fixtures to be invoiced, and any difference in the invoice price and the price of the land was to be settled for in cash. Both parties believed at this time that the stock of goods was more valuable than the land and that Traylor would be indebted to…