| Iowa | Apr 26, 1875
I. The law involved in this case is settled in Clark v. The City of Des Moines, 19 Iowa, 200. In that
II. Counsel for plaintiffs do not deny that the orders in the hands of good faith holders are subject to the defense
TTT- It is first insisted that the amount which defendant was found to be indebted to the district township of Larch-wood was fixed by the tribunal, - composed of the electors of both districts, created by law for the adjudication of such questions, and the action of that tribunal cannot now be questioned. This may all be admitted. But the record shows that the amount of the warrants and the rate of discount to be allowed thereon was not a matter adjudicated by this tribunal, but was.settled by the agreement of, the directors of the respective townships.
IY. It is next urged that the agreement of the parties for the settlement of their respective claims; and that agreement having, been carried out by the issite and receipt of .the orders, the transfer of the property involved in the settlement and 'the acquisition of the paper by those parties, will validate the orders. But it must be kept in mind that by the agreement a debt of $1600 was paid by - orders to the amount of $2133.33. The officers of defendant, it is true; assented thereto, and treated the paper as valid. This is precisely the case of Clark v. The City of Des Moines; the. city council
AeEIBMED.