Kerr v. Simons

Action to rescind the sale of two bonds secured by a trust deed. Findings were made in favor of plaintiff, and defendant appeals from the order refusing a new trial.

As to these facts there is no dispute: One Rodgers negotiated a loan for $45,000 from the Twin City State Bank, now a national bank, through defendant, its president. The loan was to be evidenced by bonds issued by Rodgers and wife payable to bearer, and drawing 6 per cent interest. To secure the bonds, which were dated December 15, 1919, Rodgers and wife executed to defendant as trustee a deed to a 640-acre improved farm in…