Bennett v. Stephens

CLAY, Commissioner.

In this action appellee, M. B. Stephens, sought specific performance of a contract to convey real estate. The Chancellor granted the relief prayed.

It is the contention of appellants that ap-pellee breached the contract of sale (referred to as “title bond”) in failing to pay the purchase price of the property on the day specified for such payment, and appellants thereupon were released from their obligation to make the conveyance. The contract provided as follows:

“The second party agrees to pay the first parties the sum of $2,500, which sum is due and payable January 1,…