Kallenbach v. Lake Publications, Inc.

The land contract contained the clause that if the vendee “shall fail to make any of the payments of purchase money and interest ... or fail to pay the taxes . . . this agreement shall at the option of the said parties of the first part [vendor] be henceforth utterly void . . . and all payments thereon forfeited . . . .”

Unlike the recently approved land-contract form 36, the contract in the instant case contained no acceleration clause making the whole sum due and payable in the event of a default. The trial judge held that, in the absence of a clause accelerating the entire debt, the vendee…