Hyman

This action was brought to recover, from the corporation defendant moneys paid by plaintiffs on a contract for the purchase of a residence lot, with the buildings and improvements thereon, situate in Los Angeles. The plaintiffs had judgment, and the defendant appeals therefrom.

On the first day of November, 1913, the defendant, as party of the first part, entered into a written agreement with the plaintiffs, as parties of the second part, whereby said party of the first part agreed that upon the performance of the covenants to be kept by the plaintiffs it would convey to them the lot and premises described therein. The plaintiffs were to pay for the said property the sum of $3,250, with interest on deferred payments at the rate of seven per cent per annum. Payments were to be made, as follows: $150 upon the execution of the agreement, and $30 per month on the first day of each and every month thereafter until the full purchase price was paid. Said $30 per month was to include interest, taxes, and insurance. The agreement contained this clause: “It is further agreed that time is of the essence of this agreement, and, if the second parties shall fail and make default in any of the…