Barnard & Son, Inc. v. Akins

SHEPARD, Justice.

This is an appeal from a judgment and from denial of certain post-trial motions. These holdings by the trial judge in effect decreed a forfeiture of plaintiffs-purchasers’ interest in a land sale contract. We affirm in part, reverse in part, and remand.

Plaintiff-appellant Barnard & Son, Inc., contracted to purchase over 100 acres of real property from defendants-respondents Akins’. The total purchase price was approximately $200,000, as to which Barnard paid $30,000 down, assumed a mortgage of approximately $26,000, and promised to make annual payments of $16,000 on June 1 of…