Sinclair v. Walker
This text of 38 Iowa 575 (Sinclair v. Walker) is published on Counsel Stack Legal Research, covering Supreme Court of Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Opinion
The facts that no note or evidence of indebtedness was given, that the time of re-payment was not definitely fixed, .and that Curless became a tenant of Weare under a written.lease of the property, tend strongly to support the conclusion that the transaction was a sale. In addition to these is the fact that the amount paid, about $1200, was very nearly the full value of the land, for Curless testifies that he offered to sell it for $ 1500.
There is also the positive testimony of Weare and Stanch-field that the sale was absolute; and the declaration of Curless that he had sold and was going to California. Further, the reputation for truth of Curless, the principal witness on behalf of plaintiffs, is impeached by five witnesses, and his general moral character by one, and he is sustained by none. It is urged that if the money paid Curless was borrowed of the [578]*578bank by Weare and tlie deed executed to Walker to secure this loan, the whole transaction is vitiated, because the 'bank had no authority to accept real estate as security for a loan.
This position is not well taken. The transaction between Curless and Weare cannot be affected by the means through which Weare obtained the money to pay for the property. That is a matter solely between Weare and the bank.
We could not fully review the evidence without extending the opinion to undue length. We have read it carefully, and we feel satisfied with the result.
Affirmed.
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38 Iowa 575, Counsel Stack Legal Research, https://law.counselstack.com/opinion/sinclair-v-walker-iowa-1874.