Gammel v. Diethelm

This is an appeal from a judgment reforming a contract to purchase real and personal property.

The purchasers paid the seller $1,000 for an option to purchase certain real and personal property (a dairy farm) for $29,000, with a down payment of $5,000 (to include the $1,000 paid for the option); the purchasers to assume a mortgage of not to exceed $12,000; the balance of the purchase price, over and above the mortgage, to be paid in

“. . . monthly installments of $100.00, or more per month, including interest thereon at the rate of 5% per annum.”

There was, at that time, an existing mortgage…