Kinne

This is an appeal from an order of the District Court confirming the order of the Conciliation Commissioner in the bankruptcy proceeding in Tehama County, California, instituted by the appellees, holding that certain real property, grain and hay land, should not be stricken from the bankrupt’s schedules.

On March 27, 1937, in California, appellant-owner of the land and appellee Dwight D. Kinne entered into a contract of sale of the land in question, the payments to be in installments. Under the contract the purchase price of $3,000 was to be paid as ’follow: $450 on the execution of the contract and $200 on the 29th day of March, 1937 and a like sum annually thereafter until the sum of $2,500 had been paid, deferred payments to bear interest at 5% per annum. Time was made of the essence and the contract provided: “It is agreed that if Buyer fails to comply with the terms hereof Seller shall at once be entitled to retake possession of the premises and retain all moneys theretofore paid as compensation for the use and occupation of the premises by Buyer up to such time and Buyer shall have no right to said land or otherwise under this agreement thereafter.” At the same time there…