Legvold v. Olson

In 1917, the appellee was the owner of a farm *1001of 240 acres, located in tbe state of Minnesota, and tbe appellant owned a farm of tbe same size, located in Hamilton County, Iowa. Eacb of said farms bore incumbrances, and, according to tbeir respective values, tbe equities in said farms were substantially equal. On September 26, 1917, tbe parties entered into a written contract for tbe exchange of said properties. .It was provided by said contract that appellee was to sell and convey tbe Minnesota land to tbe appellant, subject to a mortgage of $8,000, due March 1, 1922, and subject to a lease…