Fristad v. Thompson

This is an action for a rescission. On June 1, 1946, these parties entered into a contract by which the plaintiffs agreed to buy and the defendant agreed to sell a 5-aere tract of land. The purchase price was $4,500, payable $550 down, with the balance payable in monthly payments of $30, including interest. If and when the purchase price was fully paid, the defendant agreed to execute and deliver to the plaintiffs “a good and sufficient deed conveying said land free and clear of all encumbrances made, done or suffered by” him. The contract also provided for the conveyance of a 25-foot right…