Legal Opinion
May v. Oakley
Supreme Court of Iowa
Decided June 17, 1987No. 85-1563PublishedCited by 4 opinions
1Opinion of the Court
LARSON, Justice.
On September 28, 1979, John E. May and Edith L. May agreed to sell their 320-acre, Davis County farm to Donald G. Oakley and Mabel Irene Oakley for $338,000, payable in installments. The contract allocated $50,000 of the purchase price to the residence and $288,000 to the land and provided that the first $50,000 paid would be considered to be for the purchase of the farm residence. A mortgage by the Mays to the Farmers Home Administration was assumed by the Oakleys as a part of the purchase price.
The Oakleys paid the first $50,000 and several of the subsequent annual…
2Cases cited2 opinions
- Home Federal Savings & Loan Ass'n of Algona v. CampneySupreme Court of Iowa · 1984
- Miller v. American Wonderlands, Inc.Supreme Court of Iowa · 1979
3Cited by4 opinions
- Electrical Distributors, Inc. v. SFR, Inc.Court of Appeals for the Tenth Circuit · 1999
- Electrical Distributors, Inc., Also Known as Edi, Inc., Plaintiff-Counter-Defendant-Appellant/cross-Appellee v. Sfr, Inc., Qed, Inc., Defendants-Counterclaimants-Third Party Plaintiffs-Appellees/cross Steven R. Heaps, Defendant-Cross-Claimant-Appellee v. Ronald Mitchell and B. Jon Mitchell, Third Party Defendants-Appellants/cross-AppelleesCourt of Appeals for the Third Circuit · 1999
- Jorge Oscar Sanchez and Eligio Sanchez Estrella v. RR&A Holdings, LLCCourt of Appeals of Iowa · 2019
- May v. OakleySupreme Court of Iowa · 1987