Peck

The plaintiff and defendant entered into a written contract whereby plaintiff agreed to ' buy and defendant agreed to sell certain real property. The purchase price, amounting to $3,870, was fair and adequate and was to be paid as follows: Thirty dollars a few days after the execution of the agreement, and the balance in six annual installments of $640 each, on the 15th of November of each year, the first payment to be made November 15, 1905. Time was made the essence of the contract, and in case of default on the part of plaintiff, all payments were to be forfeited as liquidated damages. The plaintiff had the privilege of paying the entire purchase price at any time before maturity, and upon receiving payment, defendant agreed to execute a good and sufficient deed conveying the land to the plaintiff free and clear of all encumbrance. The plaintiff entered into possession of the property and made valuable improvements. He made the first payment of $30 but failed to pay the installments at the time specified in the contract, but did make certain payments which were accepted by the defendant. At the time fixed for the fifth payment a dispute arose as to the amount due and to be…