Kirkpatrick v. Petreikis

This appeal arises from a declaratory judgment action to determine the rights of the respective parties under two real estate installment contracts. On June 1,1959, the first contract was entered into by the plaintiffs Albert and Alice Skogsberg and the defendants Michael and Marguerite Petreikis. By the provisions of the contract, the Skogsbergs agreed to purchase the property for *15,400 payable at the rate of *100 per month with interest to be calculated at 5% percent per annum. In addition, the contract provided a forfeiture clause in case the buyers defaulted on their payments and an…