Phare v. Randall

In April, 1925, appellee, Warner E. Randall, sold to appellants, John J. and Elizabeth Gregory Phare, a certain water works plant with equipment located in the town of New Port Richey, Florida, for the sum of $17,500.00. Of this amount $2,000.00 was paid in cash and the balance evidenced by promissory notes executed on the part of appellants to appellee, said notes being secured by a mortgage covering the water works plant and the realty on which it was located. The first note in the sum of $2,000.00 was paid as per terms thereof, but on default in the payment of the second note, as per terms…