George H. Dohrman and William K

Under date of January 13, 1959 respondents (plaintiffs) entered into a written contract with defendant White Pine Sash Company under the terms of which said defendant agreed to sell to respondents approximately 1269 acres of land situate in Benewah County, Idaho. The purchase price was $18,500, payable by a $6,000 down payment, the receipt of which was acknowledged, and the balance in annual installments plus interest at 4% per annum on all deferred payments, as follows: (1) $4,200 or more within 12 months of date of contract (2) $4,200 or more within 24 months of date of contract (3) $4,100 or the balance within 36 months of date of contract This contract provided that respondents as purchasers would cause the payment of the unpaid balance of the purchase price to be guaranteed in writing by K. D. Tomlinson (hereinafter referred to as appellant), a lumber broker of Duluth, Minnesota. In consideration of such guarantee respondents were to have possession of the premises with the right to cut and remove the timber thereon so long as the contract was being complied with. The guarantee agreement executed by appellant bears date the 10th day of January, 1959.