Jarrett v. Arnerich

[44 Wash2d Page 56] February 22, 1950, Howard and Wanetta Jarrett, husband and wife, entered into a realestate contract with Clifford Land Company to purchase tract No. 21, Aurora Heights, Division No. 2, as per plat recorded in the records of Snohomish county. The purchase price was $1,000. In October of 1950, they borrowed $500 from Arnerich in order to complete the building of a house. Arnerich also paid off the contract. The deed from the Land Company was executed to the Jarretts, who, in turn, deeded to Arnerich. They entered into a real-estate contract to purchase from him, the exact purchase price being the amount he had paid out on the contract plus the $500 he had loaned to them. June 14, 1951, they borrowed an additional $500 from him, tore up the old contract, and entered into a new one. The purchase price was $1,766.19, the amount of their then indebtedness to him. The contract provided for monthly payments of $20 on the 22nd of each month during the life of the contract.