Slobe v. Kirby Stone, Inc.

OPINION

By the Court,

Thompson, C. J.:

A corporate buyer of a motel commenced this action for equitable relief to preclude forfeiture of its rights under the contract of purchase and sale. The district court granted that relief and the sellers appeal to us. We affirm that determination since the record contains substantial evidence to support it.

The August 1963 contract fixed the purchase price at $129,-000. The buyer paid $26,005.25 down and was to pay the balance in monthly installments with interest. The buyer was obliged to pay all property taxes. Time was made the essence of the contract.…