100 Iowa 522 | Iowa | 1897
The defendant is the widow and administratrix of the estate of A. M. Bush. On the seventeenth day of February, 1892, Bush and the plaintiff entered into an agreement for the conveyance by Bush to plaintiff of a lot of land in Buchanan county, for the agreed price of one hundred and twenty dollars, twenty dollars of which was paid in hand. The remaining one hundred dollars was to be paid, fifty dollars August 17, 1892, and fifty dollars February 17, 1898, with interest at eight per cent. The following is a provision of the contract: “And it is expressly agreed, by and between the parties hereto, that the time and times of payment of said sums of money, interest, and taxes, as aforesaid, is the essence and important part of the contract, and that, if any default is made in any of the payments or agreements above-mentioned to be performed by the party of the second part, in consideration of the damage, injury, and expense thereby resulting, or that may be incurred by or to the party of the first part thereby, the agreement shall be void and of no effect, and the party of the second part shall have no claim, in law or equity, against the party of the first part, nor to the