Booth v. Mason

FOSTER, Justice.

The bill in this suit is to declare a resulting trust in land, in the nature of a mortgage.

Complainant owned the land to start with, and gave a mortgage on it, which matured and he was unable to pay it. The mortgagee proposed to him that, if he could get some one to purchase the land at foreclosure sale for $5,000, he would release the balance of the debt. The bill alleges that he and Vaughn agreed that Vaughn would purchase the land for that amount, and have deed made to complainant, who would make a mortgage to Vaughn to secure the debt and agreed that he would pay Vaughn…