(Download) "Wayne E. Ellis and J. Evelyn Ellis v." by Supreme Court of Idaho No. 12086 * Book PDF Kindle ePub Free

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Title: Wayne E. Ellis and J. Evelyn Ellis v.
Author : Supreme Court of Idaho No. 12086
Release Date : January 13, 1977
Genre: Law,Books,Professional & Technical,
Pages : * pages
Size : 83 KB

Description

This appeal presents questions concerning the relative rights and interests of a vendor and a defaulting purchaser under an
installment land sale contract. Wayne E. and J. Evelyn Ellis, the purchasers, appeal from a judgment of the district court,
Twin Falls County, declaring their contract terminated and allowing the vendors, Delwin and Clara Butterfield, to retain all
payments made under the contract, and awarding the vendors $1,500.00 attorney fees. Ellises contend that the trial court should
have ordered the vendors to accept their tender of the balance owing on the contract. We affirm, except as to the award of
attorney fees. On September 18, 1967, Ellises and Butterfields entered into a land sale contract wherein Ellises would purchase from Butterfields
certain commercial property in Buhl. The purchase price was $17,232.00, bearing interest at 7% with payments of $125.00 per
month for the first year and $209.00 per month thereafter. The purchasers agreed to pay all property taxes accruing thereafter,
to procure a fire insurance policy on the premises, and to deposit a life insurance policy in escrow naming Butterfields as
beneficiary. The contract recites that time is of the essence and in the event of the purchasers' default, the vendors had
the option to: