Morrell v. Broadbent

Opinion by

Mr. Justice Frazer,

By written agreement dated July 10, 1925, defendant agreed to sell to plaintiff real estate situated at 3312 Woodland Avenue in the City of Philadelphia, for the sum of $20,000 payable $500 at the time of signing the agreement, $500 on or before August 25th, $9,000 “at settlement” and the balance to be secured by first mortgage on the premises. The agreement contained the following clause: “Settlement to be made on or before November 1, 1925, and said time is hereby agreed to be the essence of this agreement. Should the buyer fail to make settlement as herein…