Century Enterprises, Inc. v. Blair

We shall refer to plaintiff in error as Century and to defendant in error as Blair.

On August 20, 1962, Blair agreed to sell a tract of land to Century for a total purchase price of $120,000. The *198written contract entered into between the parties acknowledged the receipt by Blair of $2,750, and it provided that Century assumed and agreed to pay the amounts due under a first and second deed of trust of record against the land. The balance of the purchase price was to be paid in annual installments of $1,000, exclusive of interest, beginning August 20, 1963. The agreement contemplated sales by…