Carpenter v. Weatherwax

In December, 1943, defendant Arthur Weather-wax bought from the plaintiffs a farm, stock and equipment for $7,500. The sum of $500 was paid in cash, and a chattel mortgage of $3,000 and a real property mortgage of $4,000 were given for the rest. Amortization of the chattel mortgage was to be at the rate of $50 a month, but principal payments on the real property mortgage did not begin until October, 1948, when it was contemplated the chattel mortgage would' be paid. Interest at 4% was payable on both obligations in October of each year.

On May 1, 1948, Weatherwax left the farm, his wife and…