Lucius Quintus Cincinnatus Lamar

“ The question whether the extrinsic proof shows that the $4,250 was a loan to Wallace, and that the deed and option contract were made to secure its repayment with large interest, is a question of fact to be determined by the circumstances attending the execution of the instruments in question. The evidence, as it appears in the record, is much less contradictory than is usual in such cases, where it is sought by parol testimony to change an absolute conveyance, with a collateral agreement for a repurchase, into a mortgage. ”

“ He therefore prayed that said deed be declared by the court to be a mortgage; that the title to the real estate be decreed to be in the defendant, subject to such claim as the plaintiffs may legitimately have against it by virtue of that deed, and any taxes they have paid; and that defendant have a legal right to redeem, as provided by law, upon such terms of payment of such amount as the court shall think just and proper, and for other and further relief, etc. ”

“ The real fact, taking all the testimony together, seems to be that those lands, when sold in small areas to actual settlers for the purposes of habitation, would bring the higher prices, while in large quantities they could be sold to speculators, for profit, only at the lower prices. ”