Federal Farm Mortgage Corp. v. Davis

HEALY, Circuit Judge.

On June 5, 1939, appellant entered into an agreement with appellees for the sale to the latter of certain land in Tehama County, California, for the sum of $4,000. Upon the execution of the agreement appellees paid $350 on the purchase price, but have paid nothing further. Under the terms of the contract they were bound to make an additional payment of $450 within 60 days, the balance, together with interest, to be paid in semiannual installments beginning July 1, 1940, and extending over a period of 20 years, deed to be given upon performance of the stipulated conditions…