Pearce v. Shurtz

McDONOUGH, Justice.

Ivan Call sold a ranch to Frank Lewel-len giving him a bond for deed and taking in return a promissory note executed by Lewellen. These items were placed in escrow. The bond for deed recited the terms of the agreement and contained a forfeiture clause effective 60 days after Lewellen’s failure to comply with certain terms. This forfeiture clause expressly provided that upon default the buyer at seller’s election became at once a tenant at will of the seller and the escrow had the right to return the bond for deed, note, abstracts, and contract to the seller. It was also…