66 Iowa 562 | Iowa | 1885
There is no certain and direct evidence that the mortgagor was indebted in any sum whatever to his wife at the time the mortgage was executed, but there is evidence showing that several years prior thereto she had let him have not exceeding $1,250. The mortgagor, then, being in failing circumstances, and actually insolvent, executed to his wife a mortgage for $3,000, and gave her selected notes and accounts of the supposed value of at least $2,000. It lias been held that a mortgage given for a sum larger than the legitimate indebtedness, in the absence of explanatory evidence, is a badge of fraud, and may, in and of itself, be sufficient to establish a fraudulent purpose. Davenport v. Cummings, 15 Iowa, 219; Butts v. Peacock, 23 Wis., 359; Tripp v. Vincent, 8 Paige, Ch., 176; Beeler's Heirs v. Bullitt's Heirs, 3 A. K. Marsh., 280; Lynde v. McGregor, 95 Mass., 172; Wood v. Scott, 55 Iowa, 114.
It may well be presumed, in the absence of any evidence to the contrary, that the notes and accounts were amply sufficient to secure the indebtedness from the mortgagor to his wife. We think the burden was on the plaintiff, under the circumstances, to show the value' of the notes and accounts, and the amount of the indebtedness, if any in fact existed. But, conceding that there was such indebtedness to the amount of $1,250, we think there was no consideration for the mortgage, and that it is fraudulent and void as to existing creditors.
Aeeírmed.