Nicolopoolos v. Hill

The action is by the purchaser of lands under executory contract for refund of earnest money paid, the transaction not having been consummated.

By the contract, dated December 23, 1925, the purchase price was $13,400. $1,000 was paid cash, and $3,000 was to be paid February 1, 1926. These were advance payments in the nature of earnest money. On March 1, 1926, $4,700 was to be paid, with interest on the entire amount to that date, at which time a deed was to be executed, and notes and mortgage given for balance, $6,700, in four semiannual installments of $1,675 each. The seller was to convey to…