Felton v. Smith

The case made by the appellant’s complaint is, in brief, this: In June, 1878, Simeon Krout and Mary Krout executed to John H. Smith, the appellee, four promissory notes; these notes were assigned to the appellant; the notes were executed to secure the unpaid purchase-money for real estate sold by the appellee to the makers; the contract of sale was a verbal one, and under it the purchasers were put into possession and paid in property the purchase-money in ■excess of the sum evidenced by the notes, namely, $1,000; no deed was executed for the land to the purchaser; Krout and wife have died…