Rose v. Foutch

The defendant, II. C. Poutch, has appealed from the decree of the Chancellor sustaining the bill of W. L. Rose to rescind a. contract of loan, evidenced by note for $1,000 and deed of trust to a tract of land executed to secure the payment of said note. The suit was based upon false representations made by Poutch to Rose inducing Rose to make the loan, and without which it would not have been made. The representations were that Poutch and his wife had paid $2,500 for the land, and it was worth that sum or more. The land was encumbered with a first mortgage for $1,000 and interest, so that the…