Lubarsky
Lubarsky v. Chavis
Opinion
Lead Opinion
Plaintiff commenced this action to rescind an agreement by which he had purchased and entered into possession of a chicken ranch in Sonoma County. Defendant agreed to sell and plaintiff agreed to buy certain described real property for $11,000, payable as follows: $2,000 cash and “the balance in five years from date; such balance to draw interest from date at the rate of five per cent per annum, interest payable semi-annually and if not so paid then to be compounded or at the option of the party of the first part the entire sum shall become immediately due and payable without notice in which event the amounts already paid shall be forfeited and shall become the property of party of the first part as compensation for the use and occupation of said premises and party of the second part will forfeit all right, title or interest in or to said payments or to said property under this contract.
“Party of the first part covenants that the payments being made as herein agreed that she will when the full sum is paid execute a good and sufficient deed conveying said property to party of the second part; . . .
“Party of the second part shall have immediate possession of said premises.