Mitchell v. Dahlberg

Defendants appeal as of right and plaintiffs cross appeal the trial court’s decision denying defendants’ claim for acceleration of the balance and foreclosure of the land contract between the parties. We affirm.

In 1991, plaintiffs purchased from defendants a resort and laundromat on land contract. The contract provided that plaintiffs would pay $80,000 in cash, with the remaining $145,000 of the purchase price to be paid at eleven percent interest in 120 monthly payments of $1,200 and a balloon payment due on August 1, 2001, for the remaining balance, which would greatly exceed $145,000.

The…