Jansen v. Clark

O. E. Barnes was the owner of the lots. On March 10, 1922, O. E. Barnes and wife, Minnie E. Barnes, contracted to sell them to Y. J. Martin. By this contract Martin was to pay $3,900 on April 1, 1927. The question is, Who is entitled to the $3,900 ?

On February 14, 1923, Barnes and wife conveyed the lots by warranty deed to Spellman. The deed recited that it was subject to the Martin contract. On June 17, 1923, the defendant Clark and O. E. Barnes signed an exchange agreement, sub ject to the approval of Ritchie, by which Barnes was to deliver (to whom not specified) the Martin contract.…