Nippolt v. Farmers & Merchants State Bank

In an action upon a promissory note for $8,000, the plaintiffs prevailed on a trial before the court without a jury. The defendant’s motion for a new trial was denied, and it has appealed.

Peter Thorsten was the owner of a quarter section of land in Redwood county which in June, 1919, he sold to Reinertson and Anderson on a contract for deed for a consideration of $20,000. This contract for deed provided that Thorsten might put a mortgage upon the premises and that Reinertson and Anderson would assume it. Accordingly Thorsten mortgaged the land to the State Bank of Springfield for $8,000. The…