Lindsey

An appeal from a judgment foreclosing the right of appellants to purchase under a contract for the sale of real property.

The parties on December 1, 1922, entered into a contract in writing by which respondents agreed to convey to appellants certain land in Imperial County, the consideration being the promise by the latter to pay therefor the sum of |80,000.

The contract with respect to payment provided as follows: “the parties of the second part, in consideration of the premises, agree to pay to the parties of the first part the sum of eighty thousand and 00/100 dollars in lawful money, together with interest on all deferred payments at seven per cent, per annum, payable annually. Payable as follows, to wit: Fourteen thousand ($14,000.00) dollars, equity in Lemon Grove Lemon Orchard and nineteen thousand ($19,000.00) dollars by the assumption of a certain mortgage for like amount, made by the first parties, with interest at seven per cent, per annum, payable quarterly, and forty seven thousand ($47,000.00) dollars payable on or before ten (10) years after date with interest at seven per cent, per annum, payable annually.”

Time was made of the essence of the contract, and it…