Novus Equities Corp. v. Em-Ty Partnership

SIMONETT, Justice.

This case raises the question whether a vendee’s promissory note given as part payment of the purchase price survives cancellation of the contract for deed. We conclude that survivability presents here a question of fact and reverse and remand for trial. We also hold that the trial court did not abuse its discretion in certifying for appeal its partial summary judgment.

On August 11, 1983, respondent-seller EM-TY Partnership and appellant-purchaser Novus Equities Corporation entered into a contract for deed. The property sold was the Twin Motor Inn on University Avenue in St.…