Boynton v. Williams

Appellee, the holder of a mortgage on real estate, under an agreement with the mortgagors, the appellants', gave to appellants a satisfaction of that mortgage, with the understanding that another mortgage, sim ilar in terms, amount and conditions on property delivered in exchange for that encumbered, would be executed and acknowledged in legal form incident to a transaction executed between the parties involving a mutual exchange of parcels of real estate. The property exchanged in the transaction was the sole consideration to the parties for executing and carrying out the agreement that had…