De Wulf v. Bissell

In February of 1951, appellants were under contract to purchase certain real property in Maricopa County, Arizona, from a person by the name of Jaeger; and being in danger of forfeiture of the property through default in payments, borrowed $5,000 from appellees. By agreement, the $5,000 was used to purchase an outstanding interest in the property and to satisfy the delinquent payments on the Jaeger contract and taxes then due. The transaction was accompanied by the execution of three instruments: