Noord v. Downs

This suit was brought upon a note given in lieu of earnest money for the purchase of a residence owned by the plaintiffs. The note in the sum of one thousand dollars, dated May 28, 1955, was payable on demand “On approval of loan to Mortgagor by Lincoln Federal Sav. for pur chase of home at 3037-29th Avenue W., Seattle, Wn.” and bore interest at the rate of five per cent per annum after demand. The loan was never approved. The complaint alleged that it was the intent of the parties that the note should be payable not later than August 15, 1955, in any event, and that, through mutual mistake,…