Carpenter v. Riley

The opinion of the court was delivered by

Lockett, J.:

Richard Riley, defendant, appeals from the trial court’s judgment after trial granting foreclosure of a real estate mortgage for the plaintiffs, Frank and Ila Carpenter. The plaintiffs have filed a cross-appeal on the trial court’s failure to grant them judgment on the pleadings.

Riley purchased pasture land located in Miami County from the Carpenters on July 25, 1977. The purchase price was $151,200.00, to be paid in 25 annual installments of $14,164.42 due each August 1, commencing in 1978. A promissory note and a mortgage were executed by…