Gambino v. Gratiot Lumber & Coal Co.

Plaintiffs, desiring to erect a building on some lots, in which they had a contract interest, in the city of Detroit, entered into a written contract with defendant on September 11, 1919, whereby the defendant agreed to furnish them material therefor to the amount of $1,000, for which it received a cash payment of $50 and was secured by a lien on the premises for the balance, payable- January 1, 1920, It was the understanding that- at that time plaintiffs would secure title and procure a loan, from the proceeds of which defendant would be paid. They were unable to do this, and on March 1,…