Reade v. McKenna

This is a bill for specific performance of a contract for the sale of land. The complainant is the vendee and the defendant the vendor. The contract is dated May 9th, 1925, and provides for the sale by the defendant to the complainant of certain lands in the city of Long Branch for the consideration of $50,000, $5,000 of which was paid on the execution of the contract and the balance was to be paid $20,000 in cash at the settlement and $25,000 by the execution and delivery of a purchase-money mortgage in that amount. Under the terms of the contract settlement was fixed for May 25th, 1925.…