Walker v. Todd

— Defendant had been the owner of an 80-acre farm purchased from the plaintiff, giving him a mortgage on which there was a balance of $7,000 due on April 18, 1933. Defendant being unable to pay the past due interest and taxes, he and plaintiff agreed that defendant execute a deed of the farm to plaintiff in payment of the mortgage and all other indebtedness due plaintiff thereon. This was done on April 18, 1933.

On the same date plaintiff leased the 80-acre farm to the defendant for a period of three years at an agreed rental. At the time the lease was entered into, defendant also executed his…