(Download) "Huckins v. Ritter" by New Mexico Supreme Court # Book PDF Kindle ePub Free
eBook details
- Title: Huckins v. Ritter
- Author : New Mexico Supreme Court
- Release Date : January 24, 1983
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 50 KB
Description
On July 28, 1981, plaintiffs and defendant entered into a real estate contract for the purchase and sale of residential property situated in Ruidoso, New Mexico. The purchase price of the house was $155,000. Plaintiffs agreed to a down payment on the home in the amount of $45,000 and assumed an underlying real estate note in the amount of $40,725.73. The remaining outstanding balance on the house, $69,274.67, was due and payable on October 15, 1981. Plaintiffs were unable to meet the payment due on October 15, 1981. On October 30, 1981, defendants attorney notified plaintiffs that if the amount due was not paid within fifteen days of the date of the letter, then the defendant intended to exercise her right to retain all sums paid under the real estate contract. On November 30, 1981, plaintiffs filed an action to enjoin defendant from terminating the real estate contract or alternatively providing for return of a portion of the down payment. The trial court granted temporary injunctive relief restraining defendant from terminating the real estate contract. At a subsequent hearing on December 2, 1981, the parties, by stipulation, agreed to an extension of time until January 10, 1982 to correct the default and to make the payment. Plaintiffs were not able to arrange payment by that due date and attempted to arrange a partial payment by the date, to no avail. On February 25, 1982, defendant terminated the real estate contract and proceeded to obtain the closing documents from the escrow agent. On June 29, 1982, the trial court entered its order in favor of defendant.
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