Ponderosa Pines Ranch, Inc. v. McBride

Ponderosa Pines Ranch, Inc. appeals from a judgment in the Eighteenth Judicial District, Gallatin County, dismissing its complaint seeking cancellation of a land sale contract with Stanley McBride.

On July 24, 1978, the parties entered into a sales contract under which McBride was to purchase a tract of land from Ponderosa. The contract provided:

“Time is of the essence of this contract. In the event the buyer shall fail to pay any installment as and when due, the Seller shall, 45 days or more thereafter, have the right to cancel this contract by notice thereof mailed by registered or certified…