Austermuhl v. Wotton

— Rossi and Wallin, on September 1, 1919, owned a stage line operating between the cities of Olympia and Tacoma, which they were willing to sell for the sum of $30,000, and which the appellants wished to buy but did not have the money. As found by the trial court, an agreement was entered into between the appellants and respondents whereby the respondents purchased the stage line for the sum mentioned, and resold it to the appellants for the sum of $40,000, taking eighty notes of $500 each, payment of which was secured by a chattel mortgage upon the property. After all these notes had been…