Federal Land Bank v. Sherburne

On and before February 28, 1920, Louis Yareho owned 160 acres of land in Butler County. This real estate consisted of two eighty-acre tracts. Some time before that date, Yareho sold one eighty-acre tract of that land to the defendant Lillian Sherburne, his daughter. At the same time, Yareho sold the other eighty acres of the farm to his son-in-law, the defendant W. S. Sherburne. Said Sherburne and Lillian Sherburne were husband and wife.

In order to carry out the project, it was necessary for the Sherburnes to borrow money to pay Yareho the purchase price of the land. Hence, in order to…