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eBook details

• Title: Platt-Rogers Inc. v. Industrial Commission
• Author : Colorado Supreme Court
• Release Date : January 22, 1937
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 62 KB

Description

The land involved was a twenty-acre tract near Pueblo which Jones purchased in 1919 from one Friday for the sum of $2,100. The said purchase price was reduced to $500 by a return to Friday of certain shares of water stock valued at $1,600. Jones and his wife established their home on the land and have continued to occupy it as such ever since. Early in 1938, Friday requested the balance of $500 due him. Jones arranged to borrow the money from McKinney who agreed to take a deed in his (McKinneys) name for the duration of the loan, and deed it back to Jones upon repayment of the sum borrowed. McKinneys testimony concerning the deal was: "Mr. Jones came to me and told me he wanted to borrow some money from me. Well, I says, all right; he says, And I will give you this money back at any time you want it, but when I got to see Mr. Friday, Mr. Friday asked me, are you the man who wanted to buy this land? I said I promised to take a mortgage on some land for Mr. Jones. He says, Well, you dont need Mr. Jones; it is my land; why I am selling you this land, I am too old to fool with it; I will give you a warranty deed to that land." Without further consulting Jones, and in his absence, McKinney paid Friday the $500 and received a deed to the tract.

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