Rodgers v. Vaughn

On December 12, 1940, W. V. Vaughn, the owner of a tract of land in Johnson county, entered into a contract with George F. Rodgers, to sell and convey the land to Rodgers for the sum of $2,550, with a down payment of $200, the balance to be paid in $200 payments, on or before the 12th day of each succeeding December, beginning in 1941, to and including the year 1952, which last payment would be $150, and all hearing interest at 6% from the date of the contract.

The contract recited there was no incumbrance on the land, whereas there was a mortgage dated September 17, 1940, given by Vaughn to…