Calvin N. Hall and Rita M. Hall v. Perry

OAKS, Justice: This is a suit by vendors against purchasers to foreclose a real estate contract. The principal issue is the meaning of paragraph 16C of the uniform real estate contract, which entitles the vendors to treat a defaulted contract as a note and mortgage and proceed to foreclosure. The district court gave summary judgment for the vendors, and the purchasers appeal, arguing (1) that there was a genuine issue of material fact, and (2) that the vendors were not entitled to judgment as a matter of law. Purchasers also contend (3) that the judgment should have been set aside because of newly discovered evidence and (4) that the deficiency judgment was illegal.