Blass v. Waldrip

— October 21, 1931, plaintiff and defendants entered into a written contract, whereby plaintiff agreed to sell and defendants agreed to buy 100,500 shares of the stock of the Blass Oyster Company. The consideration agreed upon was the payment, to be made by defendants, of the sum of $160 per month ‘ ‘ during the remainder of the natural life of the seller.” The contract contained a forfeiture clause, reading as follows:

“In the event of failure of buyers or their assigns to make each and all of the payments provided for herein, all of the said stock shall be returned to seller and all payments…