Daily capital journal. (Salem, Oregon) 1903-1919, 1911-03-28
THE COURT PASSES.
Continued from Page 81

art; and l asked him how much he
received for it. He said he couldn't
tell me; he didn't know; he had not
sold it; they had only traded it for
other lands; he didn't know how
much the land was worth"
This testimony has been quoted as
tending to show the evident intention
of plaintiffs counsel in framing the
complaint. 1t will be remembered
that the contract entered into by the
parties authorized the bank to sell
the land for the best price obtainable
and to inform Colgan of the true
amount received, in order that he
might have the benefit of any sum Sc
cured in excess of $2,6694O and in
terest thereon at the rate of eight per
cent per annum from January q,
1909, to the time of the sale. The
agreement also stipulated that in case
the bank sold the real property, it
might be redeemed by Colgan upon
payment to the bank or its assigns of
such Indebtedness and interest.
A sale is generally understood to
mean transfer of property for
money. 7 Words & Phrases, 6291. A
trade in the sense used by defendants
agent is synonymous with an ex-
change which signifies a transfer of
one or more pieces of property for
other property. Id. 2546. A fair
Interpretation of the terms of the
contract leads to the conclusion that
the bank was authorized to execute
deed to the land for a money consid-
Grafton and to account therefor to
Colgan who, if dissatisfied with the
sum thus received, was empowered to
redeem the premises from such sale
by paying the original debt and in
terest. Though a sale of the land
might have been made under the
circumstances mentioned in the
agreement, the bank was powerless to
exchange the premises for other
property without Colgan's consent,
but having done so, as alleged in the
complaint and established by the tes-
timony, the pleading comports with
the theory of plaintiffs counsel and
states facts sufficient to constitute q
cause of action without averring that
defendant was the owner of the land
or capable of executing a conveyance
thereof to Stewart
Plaintiffs counsel was permitted
over objection and exception, to offer
in evidence a copy of the notice
served on defendants agent that
purchaser had been secured who
would give $4,000 for the land, and
an offer to pay the bank the original
debt and interest. C. w. Huffma1,
having testified as hereinbefore de.
tailed, was asked by his counsel:
What did you do afterwards in order
to procure this deed?" An objection
to this inquiry, interposed on the
ground that the answer had not ten
dered any issue on that subject, was
sustained and an exception allowed.
The witness was then asked: "Wera
there any further transactions re-
garding this matter" A. 1--WE noti
fled Mr.. Colgan." To this reply
plaintiffs counsel objected where
upon the court observed: That
would not be competent to which
remark an exception was saved
These constitute all the exceptions
that were taken at the trial by defen-
dant's counsel, as evidenced by the
bill of exceptions, and believing that
no error was thereby committed tile
Judgment is affirmed
Mr. Justice Burnett took no ,art in
the trial or consideration of this
cause on appeal.