McClure v. Edward J. Meyer Southfield Woods Corp.

This is foreclosure of a land contract for payments in default, there being no acceleration provision.

Defendant Edward J. Meyer Southfield Woods Corporation is’assignee of the vendee, and admits default in payments, but, notwithstanding, claims right to have lots released under terms of the contract. The contract described a single parcel of land and contained an agreement that the vendors would join in a plat subdividing the parcel into lots. The tract was subdivided into lots, and plaintiffs joined in executing the plat. The land contract also provided:

“It is further agreed that the parties…