Peters v. Fagan

Plaintiff brought this suit to recover $3,500 paid defendants on a land contract containing a promise to return the money if title to the property was not perfected by August 1, 1926. The contract was made March 12, 1926, and contained the following provision:

“Said first parties (defendants herein) agree to convey the above described property by general warranty deed to said second party, * * * on or before August 1, 1926, and agree that on or before that- date they will have perfected the title as good and merchantable. In the event that the title cannot be so perfected, first parties agree…