Detroit Trust Co. v. Lange

Anton Lange and his wife, Pauline (now deceased), sold certain property in Wayne county on land contract dated September 1, 1920, to Harry Barigian and Agnes, Ms wife, for $9,500, of which $1,200 was the down payment. The balance of $8,300 was to be paid “$80 or more each and every month thereafter including interest.” The contract is in the usual form and provides, among other things, for payment by the vendees of taxes, assessments and insurance, but contains no time limit as to principal nor any acceleration clause. On May 1, 1925, the Langes sold their vendors’ interest in the contract,…