On January 28, 1924, defendant executed and delivered the following written instrument:
"For value received I hereby assign to A.G. Darden, all my right, title and interest in a house at No. 3439-3441 Audubon street, just completed by me, and built on Lot C [in the *Page 619 square] bounded by Edenburgh, Olive, Upper Line and Audubon streets.
"It is understood that A.G. Darden is to pay the Darden Lumber Company's bill for $1,425.57; the [price of the] lot, $500; and other bills not in excess of [another] $500 at the time he takes title. [Italics ours.]
"It is further understood that I [Mason Kline] am to have the privilege of redeeming this property at any time up to 30 days from today, provided I pay the Darden Lumber Company's bill and such expenses as A.G. Darden may have incurred towards financing and takingtitle. [Italics ours.]"
"Question: Did you purchase the property [lot] known as No. 3439 Audubon street? Answer: Yes, sir, from [through] the Saving's Homestead. * * * Question: Will you state *Page 620 briefly what was your connection with the defendant in regard to this property? Answer: Well in 1923, in the fall, the defendant came to me to buy lumber to build a house at that location, and I finally agreed to furnish it to him. After he had received the lumber and built the house, and after some months (two or three or four) I began to push him for payment, and he continued to represent that he would get the money and pay me; but he did not. After this negotiation had failed, he and I entered into an agreement whereby I would take from him an assignment of the property [building] and assume the debts against it. * * * Question: * * * Has he ever redeemed it? Answer: He has not. * * * Up to within * * * five months ago [i.e. up to the time of filing the suit] I held out to him that, if he would pay the money I was out on it, plus interest on my outlay and the costs I had gone to, he could still redeem it. * * * Question: And he has never paid that? Answer: Absolutely not; he has never offered it."