Dastrup v. Smuin (179 F.2d 860, 1950)

MURRAH, Circuit Judge.

The appellees sued appellants for the sum of $3,300 as the sum paid under a uniform real estate contract, by the terms of which appellants agreed to sell appellees certain land in the State of Utah for the total sum of $7,500, $3,300 of which was paid by the transfer of an equity in a house and lot in Salt Lake City, Utah. The case was. removed to the federal court on diversity of citizenship and requisite amount in controversy, both of which appear on the uncon-troverted face of the petition for removal. The jury returned a verdict for the sum of $2,500 against the vendor appellants, and also found against the appellants on a counterclaim for $185.52. The trial court, however, set aside the verdict on the counterclaim, and allowed the same as a setoff against the jury verdict of $2,500, resulting in a judgment of $2,314.48, from which this appeal is taken.

In addition to the ■ down payment, the sales contract dated May 1, 1946, provided that the vendors would receive one-half of the landlord’s share of the hay and grain raised on the premises in 1946, under a preexisting agricultural lease with a third party. It further provided for the payment of $500, plus 5% interest, on the 15th day of November, 1947, and $500, plus interest, on the 15th day of November of each year thereafter, until the full purchase price was paid. The seller was- given an option to execute and maintain a loan secured by a mortgage upon the property of not to exceed the balance due on the purchase price, bearing interest at the rate of not to exceed 5%. When the amount owing the seller was reduced to the amount of such loan an