Collins v. Wright

Felton, Chief Judge.

The purported contract for the sale and purchase of described real estate—although specifying the amounts of the purchase price, cash payment and conventional loan, the number of monthly instalments of the payments on the loan and which party was to pay the closing-expenses—failed to specify the following: the interest rate and the amount of each monthly payment on the loan; on what property it was contemplated by the parties that such loan was to be obtained or what property was to be mortgaged ; from whom the loan was to be obtained; to whom the mortgage was to be given;…