Golly v. Grinnell College Foundation

Stevens, J

This is an action in equity by the vendee for an accounting, and to recover the portion of the purchase price paid on contract to purchase the east half of Section 22, Township 29, Range 33; Clay. County, Iowa. The consideration expressed in tbe contract, which is dated September 29, 1917, is $51,200, payable as follows: $1,000 on tbe execution of the contract; $3,000 March 1, 1918; and a like sum March 1, 1919, and March 1, 1920, at which time a warranty deed was to be executed. The land was subject to a mortgage for $24,000, payable to the State Savings Bank of Council Bluffs,…