Dungan

In 1925, the appellants, plaintiffs below, were the owners of certain tracts of timber land and contemplated the acquisition of others, all in Latah county, Idaho, and appellee was the owner of and was operating a large sawmill near by. On November 28 of that year they entered into a written contract by the terms of which the appellants agreed to cut and deliver in the form of lumber at points to be designated by the appellee all the white pine timber standing on the lands they then owned or should acquire during the life of the contract, which would “cut to Grade No. 3 Common or better, rough Idaho White Pine Lumber,” with the proviso that grade No. 3 common should not exceed 25 per cent, of the total cut and delivery. It was' estimated that the timber covered by the contract would cut approximately 9,000,000 feet, board measure, and the stipulated price was $32.50 per thousand, which was to be paid in part at the rate of $31.50 per thousand, on or before the 8th day of each calendar month for deliveries made during the preceding month. Payment of the other $1 per thousand was to be made upon final settlement and upon satisfactory proof that appellant had discharged all claims…