Sargent v. Shipp

On June 23, 1942, the defendants in error sued L. D. Sargent upon a series of promissory notes executed for the purchase-price of standing timber, each note being for $250 principal, with interest and attorney’s fees. The written contract between the parties provided that Sargent have two years from July 1, 1931, in which to cut and remove the timber from the described premises, and that at the end of said two years any remaining timber would revert to and become the property of Johnson and Shipp. The contract and notes were executed on May 22, 1931. In each of the notes, Sargent “expressly…