Hermanos v. Matos

On the 1st of March 1929, the parties in this case made an agreement whereby a sale of cattle was negotiated. The cattle were sold for the lump sum of $18,000. The purchaser, Alonso Hermanos, an agricultural partnership, paid $3,000 in cash to José Matos, the vendor, transferred to him a piece of property worth $5,000, and agreed to pay the balance in two years, to mature on the 1st of March 1931. To secure the balance of the purchase price remaining unpaid, Alonso Hermanos executed a mortgage to José Matos, the deed for which was duly recorded.

On December 12, 1929, the plaintiffs brought…