Clarke v. TITLE GUAR. CO., ETC.S.

OPINION OP THE COURT BY

TSUKIYAMA, C. J.

This litigation arose from a bill of interpleader filed by Title Guaranty Co. of Hawaii, a copartnership. Appellants, who are designated herein as “sellers,” and two of the appellees, Howard E. Ball and Ruth Irene Ball, designated as “purchasers,” entered into and executed a written contract, entitled initial payment receipt and contract, dated March 15, 1954, whereby sellers, for the price of $26,250, agreed to sell and purchasers to buy, “free and clear of encumbrances,” approximately 16,788 square feet of land with residential improvements thereon at…