Payne

Appellants, who are the plaintiffs, seek to foreclose two mortgages, each for the principal sum of $2,250 with interest, together with some small amounts paid by them on street improvements bonds. The mortgages were executed by the defendants and respondents as part of a transaction wherein the latter exchanged twenty acres of vineyard land near Orosi, in Tulare •County, where they had resided for about nine years prior to April 1, 1925, for a lot sixty (60) feet in width near Broadway and One Hundred and Fifth Streets in the county of Los Angeles, the property being at the time of the transaction outside of the city of Los Angeles. Each of the mortgages was dated April 1, 3925, and one of them covered the east thirty (30) feet of the lot mentioned, and the other covered the west thirty (30) feet of said lot.

By their answer respondents alleged that they knew nothing of conditions • or values in the city of Los Angeles; that appellant Jesse B. Payne, for the purpose of inducing them to exchange their property, fraudulently represented that the two half lots were of the value of $9,000; whereas, their actual value was not in excess of $5,000. That said appellant represented that a…