Bedell v. Steele

This is an action in equity, and “the court will look at the facts and circumstances surrounding the transaction, regardless of mere matters of form and determine therefrom the real nature of the transaction.” Watt v. Morrow, 19 S. D. 317, 103 N. W. 45, 47.

The facts in this case are that Ella Steele sold this land to John W. Steele and Sarah Steele in equal shares, on an executory contract, for a consideration of $5,652 payable m installments. The purchase price for John W. Steele’s half interest has been paid from funds in which he also had a half interest. John W. Steele was insolvent when…