Phillips v. McIlrath

— The note in suit is for $34,000, and was executed March 1, 1919, by the appellants J. M. and Jane Paul to their' co-appellant, John McIlrath. The mortgage given to secure the payment thereof covers 80 acres of land in Marshall County. On March 27, 1919, the appellant McIlrath entered into a contract in writing with appellee for the purchase of a tract of land containing 197 acres, situated in Poweshiek County. The consideration expressed in the contract was $48,500, and was to be paid as follows:

“Second party agrees to pay said purchase price in the manner following: give a note of five…