64 Iowa 79 | Iowa | 1884
The only evidence introduced on the trial of the case in the circuit court was the testimony of plaintiff, lie testified that in the month of December, 1882, he made a verbal contract with one Jacobs for the sale of a farm; that the price which Jacobs agreed to pay for the farm was $6,000, one hundred dollars of which amount was paid at the time the contract was entered into,-and the remainder was to be paid on the first of March following, at which time he agreed to give Jacobs a warranty deed of the place. He remained in possession of the place until the first of March, when Jacobs paid the balance of the purchase-money, and he made the conveyance, and delivered possession of the place to Jacobs. No notes were given by Jacobs for the balance of the purchase money, but the contract was wholly in joarol. The assessment in question was based on the indebtedness from Jacobs growing out of the transaction. The term credit, as it is used in the statutes which provide for the assessment of property for taxation, is defined by section 802 of the Code; and it “includes every claim and demand for money, labor, or other valuable thing.” The single question presented by the case is, whether the transaction between plaintiff and Jacobs created a credit in favor of plaintiff within the meaning of the term as thus defined.
Plaintiff’s position is that, as the undertakings of the parties were dependent, he had no claim or demand against
Affirmed.