Chastain & Blass Real Estate & Insurance v. Davis

MERRILL, Justice.

Appellees Davis and Harper filed a declaratory judgment proceeding in equity to construe a contract whereby appellees purchased an insurance agency from appellant. The dispute arose over the amount due on the final payment. From a decree finding that appellees owed $1,329.12 instead of $4,668.39, as contended by appellant, this appeal followed.

Considerable negotiations were involved before the contract was signed. An old contract of purchase and sale was used, which had been based on premiums. Both sides agreed that wherever the word “premiums” appeared, it should read…