Walden v. Backus

OPINION

By the Court,

Zenoff, D. J.:

On May 13, 1960, a conditional sales agreement was entered into between appellant, as seller, and respondent, as purchaser, of the Restwell Motel, in Reno. The total purchase price was $73,500, consisting of a $10,000 down payment, a note for $15,612.29, with sellers as payees, and the assumption by the buyers of two deeds of trust which were then outstanding.

Buyers took possession of the motel four days later and made one monthly payment. In the meantime, buyers sold the premises to a third person who defaulted sometime in July by reason of which buyers…