Union Safe Deposit Co. v. Chisholm

By contract in writing, dated ¡November 9, 1887, appellant agreed to sell to appellee a tract of land in Chicago for $15,000, of which the sum of $500 was then paid, and the balance was to be paid in installments. One of the stipulations of the contract was this :

“ It is hereby agreed, that, should the title to said property be found to be unmerchantable and bad upon examination (such examination to be made within ten days from delivery of abstract), then all payments made in pursuance of this contract shall be refunded. But should the said James W. Chisholm fail to perform the contract on…