Halfon v. Title Insurance & Trust Co.

OPINION

Per Curiam: 1

In September 1969, respondents Joe Ingersoll and Jack Lindell entered into an agreement to sell a parcel of real property to appellants. The total sales price was $500,000. Pursuant to agreement, appellants made a $100,000 cash down payment, and respondents released to them a five-acre portion of the total parcel. Appellants then executed a promissory note for the remaining principal of $400,000. Appellants were required to make monthly interest payments until December 12, 1974, at which time the entire principal of $400,000 became due and payable. 2

As security, appellants…