Dunlap v. Hansen

The Hickmans, in 1932 and prior years, owned a wheat ranch of about twenty-one hundred acres in WTiitman county, upon which Northwestern Mutual Life Insurance Company held three mortgages.

In 1932, Dunlap & Geiger, partners, were advised by the officers of the First Savings & Trust Bank of Colfax that a lease for a long term of years, on the usual and customary terms of one-third crop rent to the landlord, could be had of the Hickman ranch. Accordingly, they entered into an oral agreement with the, bank substantially as follows: That, in consideration of $5,500, the bank would deliver to…