Peugh v. Davis

Peugh (plaintiff) borrowed money from Davis (defendant) multiple times, each time giving Davis a deed to his property drafted as an outright sale, though the first such deed was returned once repaid; when Peugh could not repay a later loan, he borrowed still more from Davis and executed an instrument reciting a prior "sale" along with a receipt for the supposed full purchase price. Peugh sued to redeem the property; the lower court ruled for Davis.