UNDERCOFLER, Presiding Justice.
This case involves an unsuccessful land speculation venture.
In 1973 Joe K. Smith, Jr., purchased 1,250 acres from Edna Noblin for $1,500,000. He paid $300,000 down with the balance to be paid within one year. Smith sought a loan of $1,200,000 from the Federal Land Bank Association of Gainesville to satisfy Noblin's debt. The requested loan was above the $150,000 loan limit which could be approved by the Gainesville Association...
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