Strong v. Reeves

Defendant appeals from a judgment of foreclosure and sale of an executory contract for the sale of a farm.

Plaintiffs sold the farm in question to the defendant for the sum of $3,750. A written agreement was executed by the parties, in which the receipt of $700 of the purchase price was acknowledged by the plaintiffs. The balance of $3,050 was to be paid by the defendant at the rate of $25 a month, with interest at 6% on unpaid balances of principal. Such monthly payments were to be first credited against accrued interest and the balance credited to principal. The defendant had the privilege…