C. L. Williams and Jennie L. Williams V‪.‬

Appellants (defendants), W. W. Havens and wife, the purchasers, hereinafter referred to as Havens, appeal from a judgment
and decree of cancellation and forfeiture entered against them, involving a land sale and purchase contract made between themselves
and respondents (plaintiffs), C. L. Williams, as husband, and wife, the sellers, hereinafter referred to as Williams. January 22, 1952, Williams, as sellers, and Havens, as purchasers, entered into a written contract for the sale and purchase
of approximately 370 acres of undeveloped land in Bingham County, Idaho. The parties agreed to a purchase price of $27,000.00,
to be apportioned to the land at $60.00 per acre, and the balance to two 16-inch wells to be drilled by respondents. Appellants
made a down payment of $4,000.00. The balance of the purchase price was agreed to be paid in eight equal annual installments
of $2,875.00 in principal sum, the first installment to become due one year from the date of the contract, and a like installment
to become due January 22nd of each year thereafter, together with annual interest on the unpaid balances of purchase price
at the rate of 6% per annum, from January 1, 1952, until the purchase price was fully paid.