Cain v. Hunter

Plaintiff appeals from a judgment in favor of defendant. On March 19, 1952, plaintiff and defendant signed a deposit receipt for the sale to plaintiff by defendant of a motel in Salinas for the total purchase price of $265,000. Plaintiff made a down-payment of $5,000. The deposit receipt provided for the payment of the purchase price in the following language: “The total purchase price is $265,000.00-Dollars and the balance of same is to be paid within_ days from date hereof, as follows: Another $15000.00 to be paid 90 days from date of this deposit; mo. payments not exceed $2500.00 Total…