Karr v. Rust

In June, 1911, William Elder Karr owned a farm in McLean county, in this State, of the value of about $50,000. He had previously also contracted to purchase 774 acres of land located in California for the sum of $50,310, the purchase price thereon to be paid by instalments at certain intervals. This contract had a forfeiture clause providing that if he failed to make any of ilie stipulated payments it would become null and void, and all previous payments would be forfeited. He had paid instalments thereon amounting to about $23,000, leaving a balance of over $27,000 due and unpaid. His other…