Nature of the Case
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Facts
Zinn (D) sold a house to Stonebraker (P) for $25,000. A down payment of $1500 was given, and payments of $189.09 would finance the balance due of $23,500 @ 9% interest. A deed of trust in favor of First Federal Savings and Loan previously given by D was acknowledged. Upon payment in full D was obligated to convey marketable title. D agreed to make payments on the note secured by the deed of trust. P took possession of the property. The contract called for liquidated damages in the event P abandoned the property. Those damages were the amount P had paid on the purchase price at the time of abandonment. P occupied the home and after one year notified D that they were vacating the premises. P sued D; the forfeiture clause is a penalty.
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