Teetzel v. Atkinson

Plaintiffs filed a bill to foreclose a land contract. The essential facts are not in dispute. November 27, 1936, plaintiffs sold a piece of real estate on land contract to defendant for the sum of $15,000. The contract provided for a down payment of $3,000 and monthly instalments of principal and interest of not less than $120 and with the further agreement that on or before November 27, 1938, the purchaser would assume a mortgage to be placed on the premises by vendors and pay in full all sums due seller over and above the amount of the mortgage at that time.

On or about November 1, 1937,…