Birch-Brook, Inc. v. Ragland

Carleton Harris, Chief Justice.

The pertinent facts in this case are not in dispute. In July, 1965, appellant, Birch-Brook, Inc., Trustee, an Arkansas Corporation, purchased the parcel of land in Pulaski County which is involved in this litigation (referred to in the record as “Tract B”). Appellees are heirs and devisees of the Miller and Ragland families. The sale price was $510,000, payable $50,000 in cash and $260,000 over an eight year period according to the terms of a promissory note secured by a vendor’s lien on the property. It is undisputed that up to the time of the delivery of the…