Continental Bank & Trust Company v. Stewart

CROCKETT, Justice.

Plaintiff bank recovered judgment against defendant, R. W. Stewart, under the theory that the bank was a third-party beneficiary to receive part of the purchase money Mr. Stewart had contracted to pay for the farm of A. W. Cheney. Stewart appeals.

An earnest money receipt dated November 30, 1953, by which Stewart agreed to *230purchase Cheney’s farm located in Davis County forms the basis of the transaction in question. It recited that the total price was to be $23,647.80, which was to be paid by Mr. Stewart’s assuming and paying debts which Mr. Cheney owed to banks, and to pay…