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GRAMAR INVESTMENT CO. v. CUMBERWORTH

No. 18,002.

120 Ind. App. 379 (1950)

92 N.E.2d 736

GRAMAR INVESTMENT COMPANY, INC. v. CUMBERWORTH ET AL.

Court of Appeals of Indiana.

Filed June 9, 1950.

Attorney(s) appearing for the Case

Paul V. Wycoff, of Batesville, for appellant.

Amos W. Jackson, of Versailles, and John G. McNutt, of Indianapolis, for appellees.

DRAPER, J.

The appellees Cumberworth and Cumberworth were indebted to the Holton State Bank in the sum of $3,797.50 on a note secured by mortgage on their farm. The bank was in failing circumstances, and it induced the appellees to apply to the Federal Land Bank for a loan. To enable the appellees to obtain such a loan, the bank agreed to accept the sum of $2,719.85 in full settlement of its claim, and it stipulated that no other note, mortgage, or other consideration...

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