Lucas v. Bishop
Supreme Court of Oklahoma
1Opinion of the Court
WATT, Justice.
FACTS AND PROCEDURAL BACKGROUND
¶ 1 On November 26, 1989 Jay Lucas agreed to sell a house in Bryan County, Oklahoma, to Bill Bishop and Vickie Lynn Bishop under the terms of a contract for deed. The Bishops made a $5,000.00 down payment and agreed to pay a balance of $25,000.00 in $249.97 per month installments with interest at 10% per annum. The contract for deed provided that the Bishops “shall be responsible for ad valorem taxes upon said property.” Paragraph 6 of the contract for deed states:... should [the Bishops] fail to make the payments described herein for a period of…
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