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eBook details

• Title: Flemetis Et Ux. v. Mcarthur Et Ux.
• Author : Supreme Court Of Utah
• Release Date : January 02, 1951
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 58 KB

Description

LATIMER, Justice. Plaintiffs instituted this action to recover the sum of $2,000 alleged to be due them under the terms of an agreement for the sale of real property. The lower court entered judgment in favor of plaintiffs' and defendants' appeal. The parties will be referred to as they appeared in the court below. On January 26, 1945, the plaintiffs and defendants entered into an agreement under the terms of which the plaintiffs agreed to sell and defendants to purchase approximately 200 acres of real property located in Duchesne County, Utah. The purchase price was $12,000, payable $8,000 at the time of the execution of the contract and the remaining balance was to be paid in five equal annual installments of $800 each. Title to 160 acres of the property was to be conveyed to the purchaser when $10,000 of the purchase price had been paid. This 160-acre tract of land was paid for and deed executed, and so it is not involved in the present controversy. The agreement provided that since title to the remaining 40-acre tract was not in the name of the plaintiffs but was in the name of Peter Flemetis, title should be properly and suitably vested in Tony Flemetis, and conveyed to the defendants by warranty deed. It was further provided in the agreement that until such time as a marketable title was obtained by the plaintiffs the defendants were not required to pay the final $2,000 on the total purchase price and that, unless title was perfected within five years and the abstract evidenced a record title free and clear of all encumbrances, the defendants were to be relieved from making the final payment.

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