Hull v. Hostettler

This is an appeal from a decree granting specific performance of a contract for the exchange of real estate. The plaintiff owned a farm of 42 acres in Lapeer county, near Dryden, Michigan. The Hostettlers had an equity as vendees in a land contract of property in the city of Detroit. Desiring to exchange these properties the parties entered into a written contract, wherein it was provided that the plaintiff was to deed his farm to the Hostettlers and take back a mortgage thereon for $3,500 in exchange for their equity of $5,000 in the city property on which they still owed about $3,900. The…