Southern Pacific Transportation Co. v. Port-O-Call, Inc.

MORIAL, Judge.

On June 24, 1965, plaintiff-seller, Southern Pacific Transportation Company (SPTC) formerly Southern Pacific Company and defendant-purchaser, Port-O-Call, Inc. (POC), executed a document labeled “Agreement” for the sale of two certain parcels of immovable property situated in the City of New Orleans. The “Agreement” which the parties refer to in their briefs as a “sell-purchase” agreement recited the sale price at $4.72 per square foot as determined by a licensed surveyor or approximately $432,000.00 “ * * * payable as follows: Twenty One Thousand and 00/100 ($21,000.00) cash,…