Janes v. Towne

Tbe subject-matter of tbe controversy is a farm of 130 acres in Clay County. In May, 1919, tbe defendant purchased this farm from the plaintiff by executory contract, and went into possession thereof on March 1, 1920. Tbe purchase price was approximately $25,000, of which tbe defendant was to pay, and did pay, tbe sum of $500 on tbe date of execution of tbe contract, and tbe further sum of $2,500 on January 1, 1920. Interest at 5 per cent was to accrue on tbe balance of tbe purchase price, from March 1, 1920, and was to be paid annually. No further payment of tbe principal was required for a…