Smith v. Farmers' State Bank

A decree of the circuit court of Union county, entered in an action for specific performance of a contract and for damages, is here for review.

The facts are as follows: February 11, 1943, appellee Farmers’ State Bank executed an option to appellants to purchase the lands involved here, within three months after the date thereof for the sum of $3500. The option recited it was given to enable appellants to obtain a loan from the United States government for the purchase of that land. The bank agreed to convey by warranty deed a valid, unencumbered, indefeasible fee-simple title, meeting all…