Schneider v. Levy

On May 1, 1925, plaintiffs John G. Schneider and wife, as vendors, entered into a land contract with defendants Jacob J. Levy et al., as vendees, for the sale of 109 acres of land in the township of Troy, Oakland county, Michigan. The consideration was the sum of $10,000 paid at the time contract was entered into, and the further sum of $93,550, which vendees agreed to pay in installments of not less than $2,500, together with interest at the rate of 6 per cent., payable on November 1, 1925, and semi-annually thereafter, the entire sum to be fully paid within 10 years from the date of the…