Stevens v. Most

On September 12, 1925, Clark F. Most, defendant and appellant, entered into an executory contract to purchase property in Oaldand county from John Stevens and wife, plaintiffs and appellees. Four thousand dollars was the down payment, and a balance of $8,000 was payable in annual installments of $500 or more until reduced to $6,000, whereupon vendors were to execute a deed upon receiving a purchase-money mortgage for $6,000, payable on or before 10 years from the date of the mortgage, with interest payable semi-annually. On September 28, 1926, defendant paid one principal installment of $500,…