School Board v. Payne

On August 1, 1919, George W. Payne entered into a written contract to sell to the school board of the city of Roanoke a parcel of land located on the southwest corner of Commerce and Church streets, the same being a portion of the block bounded by Commerce, Luck, Roanoke and Church streets, in the city of *243Roanoke, Virginia, known as the “Commerce Street Square,” for the sum of $50,000.00, with interest, and upon terms therein stated. The contract of sale contained the following clause:

“This sale is made and the price and terms agreed upon herein are based upon the fact that the herein…