Johnson v. Pullman State Bank

Citations

• 40 Wash. 64
• 82 P. 122
• 1905 Wash. LEXIS 938

Syllabus

<p>Compromise and Settlement — Land Held as Security eob Advances — Interest on Advances — Rate Fixed by Note on Extending Time. Where property was purchased for another and the title held until payment of the purchase price, a settlement between the parties fixing the balance due, for which a note was given, constitutes such sum a claim upon the land, drawing interest at the rate specified in the note, and not at the legal rate; and a third party, to whom the equitable owners had .assigned their interest, is not entitled to a conveyance upon payment of such sum with interest at only the legal rate.</p>