Amerson v. Cox

1. A contract between one who has sold land and given a bond for title therefor and one who has taken from the purchaser a transfer of the bond and has assumed the purchaser’s outstanding obligation for the purchase-money to the seller and has taken possession of the land, by which contract it is agreed that the person who took the transfer of the bond, and thereby became substituted for the purchaser of the land from the original seller, may rescind the contract of sale and relinquish possession of the land and obtain a cancellation of his obligation, upon his subsequent inability to carry…