Ferguson v. Coffey

TYSON, Judge.

Lyle W. and Eleanor Coffey and John D. Kinsland ("defendants") appeal from judgment entered computing the amount Phil Jackson and Martha J. Ferguson ("plaintiffs") owe to them on an installment land sale contract or contract for deed. We affirm.

I. Background

On 8 November 1971, plaintiffs entered into an installment sales contract with defendants to purchase real property located in Haywood County, North Carolina ("the property"). Plaintiffs agreed to pay defendants $12,100.00 plus interest at seven percent. Plaintiffs agreed to pay $78.50 per month beginning 1 December 1971.…