[DOWNLOAD] "Joy A. Anderson and Elizabeth F. Anderson" by Supreme Court of Idaho No. 9441 ~ Book PDF Kindle ePub Free
eBook details
- Title: Joy A. Anderson and Elizabeth F. Anderson
- Author : Supreme Court of Idaho No. 9441
- Release Date : January 13, 1965
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 68 KB
Description
September 20, 1958, the plaintiffs (respondents), husband and wife, entered into a contract with the defendants (appellants) for the sale by plaintiffs to defendants of a farm in Boundary county. The consideration in part consisted of the conveyance by defendants to plaintiffs of a farm property in Union county, Oregon, which was subject to an incumbrance of $64,000, which plaintiffs assumed and agreed to pay, and the conveyance by defendants to plaintiffs of a parcel of land in Payette county, Idaho. Defendants' equity in the two parcels to be conveyed by them to plaintiffs, and which constituted the down payment on the land in Boundary county, was $46,000, and the agreed balance of the purchase price was $80,000. Interest was to be paid on the balance due at 5%, payable annually commencing November 1, 1959, and the principal was to be paid by application thereto of the proceeds of one-fourth of all crops grown upon the Boundary county land, until the balance was fully paid. In addition the farm machinery owned by the respective parties was to be left on their respective properties and transferred therewith. Plaintiffs' machinery being of greater value than defendants', the agreed difference of $5,767.90 was to be paid to plaintiffs by the defendants in annual installments of $1,000 commencing November 1, 1959, with interest at 6% per annum. The contract further provided for conveyance of the Boundary county property to defendants by warranty deed upon performance of the contract. It further provided that time was of the essence and that in case of default the vendors at their option could declare the contract null and void, retake possession and retain all payments and improvements made by defendants as liquidated damages. Thirty days' notice of default was provided to be given by plaintiffs to defendants.