Handy
Handy v. Gordon
Opinion
lead Opinion
Traynor, J.
Plaintiff appeals from a judgment for defendants entered after the trial court granted a motion for judgment on the pleadings. Plaintiff contends that his complaint states a cause of action for specific performance of a contract to sell land and that therefore the trial court erred in granting the defendants’ motion. (See MacIsaac v. Pozzo (1945) 26 Cal.2d 809, 815-816 [ 161 P.2d 449 ].)
The complaint alleges that on January 21, 1964, the parties entered into a written contract in which defendants agreed to sell certain real property to plaintiff. The contract was set forth in escrow instructions that described the property as approximately 320 acres known as the Gordon Ranch and excepted about three acres that included the sellers’ home. The purchase price was $1,500,100. The instructions stated that $300,000 was paid to the sellers outside of escrow and that an additional $100 was deposited with the escrow company. The buyer agreed to execute a note secured by a deed of trust for the balance of $1,200,000 plus interest of 2 percent per year. The note was to be paid in annual installments of *580 $120,000 or more beginning three years after the close of the escrow, and any…