Powers v. Strout
Supreme Court of Iowa
Appeal from Butler District Court. This is an action for the foreclosure of a mortgage upon certain real estate. It appears that the mortgage was given in part to secure the purchase money of the mortgaged property, which consisted of certain town lots, upon which there was a dwelling-house, barn and office. Both parties are physicians. As part of the consideration for said property the plaintiff undertook to transfer his medical practice to the defendant.
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Appeal from Butler District Court. This is an action for the foreclosure of a mortgage upon certain real estate. It appears that the mortgage was given in part to secure the purchase money of the mortgaged property, which consisted of certain town lots, upon which there was a dwelling-house, barn and office. Both parties are physicians. As part of the consideration for said property the plaintiff undertook to transfer his medical practice to the defendant. The parties entered into a written contract in which the plaintiff bound himself to abstain from the general practice of medicine in…
1Opinion of the CourtBotorock, J.
That part of the written contract which is material to the determination of the case is as follows:
“And the said M. I. Powers hereby agrees, in consideration of the above specified sum of three thousand dollars, to sell and convey to the said A. O. Strout the above described lots, numbered two and three, and to execute to said A. O. Strout a good and sufficient warranty deed therefor, together with all the appurtenances thereto belonging, and to relinquish and give up to said A. O. Strout his general practice of medicine and surgery in Parkersburg, Butler county, and the surrounding country,…
2Cited by1 opinion
- Cole v. EdwardsSupreme Court of Iowa · 1895