Supreme Court of Iowa October 27, 1925 (J. W. Squire Co. v. Hedges)

Vermilion, J.

I. The material facts, with a single exception, to be presently noted, are not in dispute.

Clarence Hedges was the owner of certain land upon which J. W. Squire had a first mortgage for $9,000, and the defendant W. II. Donald had a second mortgage securing two notes, one for $3,946, due in five years, and the other for $4,000, due in eight years. These mortgages had been executed by.