Chester A. Hicks Builder & Developer Inc. v. Caple

EDWARD P. HILL, Jr., Judge.

On March 31, 1965, appellants entered into a contract with the appellees to purchase a tract of land located in Jefferson County containing approximately 37½ acres of unimproved land for a total sale price of $60,000.

Pursuant to the March contract, the ap-pellees on July 1, 1965, executed a deed to the appellants conveying the land to the appellants. The appellants at that time paid $15,000 as a down payment provided in the March contract and executed three notes for $15,000 each, payable in one, two, and three years. The deed also retained a lien on the property to…