140 Iowa 464 | Iowa | 1908
— One phase of this litigation has been disposed of in this court. See 129 Iowa, 200. The issue now to be decided is whether the landlord’s lien of plaintiff is superior to the lien of intervener’s mortgage. As
It is also agreed that the deferred payments above mentioned shall be secured by first mortgage on the property herein contracted to be sold. It is further agreed, that the title of the said property shall remain in the seller until such mortgage is given, or until the purchase price and interest have been fully paid. And in case of any default in any of the terms of this contract, the sellers have the right to take immediate possession of said property. Upon the execution and delivery of the aforesaid mortgage, or the payment of the purchase price in cash, Van Allen & Poughton agree to execute and deliver a good and sufficient bill of sale of the above-described property.
The price was $3,500, of which $500 was' to be paid “60 -days after press is in running order,” when notes for the balance in monthly payments were to be executed. The press was placed in the building in the fall, and on January 23, 1902, the vendee paid $250 thereon, and two days later transferred to intervener a draft of $200, which appears not to have been honored until July 2, 1902. Owing to a defect in a cogwheel the Standard Printing & Manufacturing Company declined to accept the press. The wheel was replaced by another, and then there was some delay in adjusting the payment of freight. One Steinort was president of both the Standard Printing & Manufacturing Company and the Decorah Printing Company, and, according to the testimony of the only witness called, refused to accept the press “until a few days
The judgment is affirmed.