Abercrombie v. Stoddard

On November 17, 1919, respondents entered into a contract in writing with appellants for the sale of certain real and personal property situated in Boise. The agreed purchase price was $10,250. Five thousand dollars of this amount was paid at the time. Two thousand five hundred and fifty dollars with interest thereon at the rate of seven per cent per annum, was to be paid on or before one year from December 1, 1919, and the remainder was to be paid by appellants’ discharge of a certain mortgage, the specific covenant being:

“It is understood and agreed that there is now a mortgage of…