Ackerman v. First Trust Joint Stock Land Bank

In March 1923, plaintiffs Charley and Anna Ackerman, husband and wife, executed a mortgage on their fractional one-quarter section of land consisting of 120.54 acres to the First Trust Joint Stock Land Bank of Chicago in the sum of $12,000, title to the real estate being in Charley Ackerman. Plaintiffs resided on this farm. In March 1931, Charley Ackerman executed to .defendant William Oldenburger his unsecured promissory note in the sum of $5,000. Mrs. Ackerman did not sign this note. Oldenburger obtained judgment against Ackerman on this nóte in 1936. The Land Bank -commenced-a foreclosure…