Lund v. Larsen

Peterson, Justice.

This is an action for a declaratory judgment in which the question for decision is whether a purchaser in possession under an executory contract for the sale and purchase of real estate is liable for interest on installment payments of the purchase price before they become due, where the contract provides that the purchaser shall pay interest on the entire unpaid purchase price during three calendar years following its execution and that the installment payments shall begin afterward, but is silent as to whether or not the installment payments shall bear interest.

Defendant…