Purdy v. Massey

Kun, J.,

The plaintiff, Elizabeth Purdy, owned a plot of ground in the City of Philadelphia, which she agreed to sell to the defendant Massey for $85,000, of which the sum of $25,000 was to be paid to her in cash at settlement, and she agreed to take back a purchase-money mortgage for the balance of $60,000. Inasmuch as Massey intended building a public garage on the site, it became necessary for him to raise money to finance his project, and plaintiff agreed that if Massey would furnish her with a completion bond of a reliable insurance company that the garage would be built and completed on…