Cooley v. Scarlett

One Stephenson had been negotiating with Scarlett, the appellee, for the purchase of land belonging to the latter, situated in the State of Michigan. He was to give Scarlett, in exchange, a mortgage on certain lands in Bureau county, in this State, and a deed from the appellant, Cooley, to a tract of land in Iowa, which he represented Cooley to hold in trust for him. Scarlett was to convey the Michigan land to Cooley. Scarlett and Cooley both executed their deeds, and these were left with one Johnson as a depositary, to remain until Scarlett should be satisfied with the title of the mortgaged…