Supreme Court of Iowa November 21, 1929, No. 40020. (Boyce v. Farmers' Mutual Insurance)

Kindig, J.

Sometime in the year 1919, the intervener-appellee, Alvin Treloar, sold to one Arthur McCabe 240 acres of land in Story County. It appears that the purchase price was $84,000. Part of that consideration seems to have been paid in cash, and McCabe handled the balance thereof by assuming a $45,000 mortgage then on the land, and giving to appellee a second mortgage in the sum of $5,000.