Kerr v. Horn

On June 26, 1919, the plaintiff was the owner of a 200-acre tract of land in Wapello County, Iowa. On that day this land was conveyed to one Gilyeart, a part of the purchase price being taken in the form, of a mortgage and note for $17,500, which mortgage and note were transferred to one John F. Webber, in 1922, and by him transferred to the Equitable Life Insurance Company of Iowa. This mortgage was foreclosed, and, on special execution, the land was bid in by the Equitable Life Insurance Company for $17,500, leaving a deficiency in the sum of $1,056.19. The date of the sale was May 31,…