Property Keyed to Rabin
Peugh v. Davis
In March 1857, Peugh (Plaintiff) borrowed $2,000 from Davis (Defendant), payable in two months. Plaintiff gave Defendant a deed to his property, which was written as a sale of the property. The loan was repaid and the deed returned. In May, Plaintiff borrowed $1,500 from Defendant under the same terms as before, but by January 1858, Plaintiff had not repaid the loan. In February, Plaintiff borrowed another $500 from Defendant and gave Defendant an instrument that recited that Plaintiff had previously sold the property to Defendant. He also delivered a receipt for $2,000 purporting to be the full purchase price of the property. Plaintiff sued to redeem the property. The lower court found for Defendant, and Plaintiff appealed.
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