Christin
Christin v. Story
Opinion
Lead Opinion
Spence, J.
Plaintiff brought this action to obtain possession of certain real property and to have all rights of the defendant under a contract of sale declared forfeited because of the failure of defendant to make the payments required by the contract. The cause was tried by the court sitting without a jury and from a judgment in favor of plaintiff, defendant appeals.
The contract between the parties dated June 8, 1927, provided for a purchase price of $100,000 payable on or before June 1, 1930, “together with interest on said sum of one hundred thousand dollars, or any unpaid portion thereof, at the rate of seven per centum per annum, payable semi-annually on December 1st and June 1st of each year”. It further provided for the payment of all taxes by the purchaser. Time was made of the essence by the following clause: “It is especially agreed that time is of the essence of this agreement, and that if second party shall fail to pa.y any sum of money hereinbefore mentioned at the time agreed to be paid, then upon such failure to pay said sum, or at any time thereafter, first party shall have, at her option, the right to immediately enter into and take possession of said premises . . . , and…