1. A promise by a grantee to pay an additional $1,500 within 30 days after execution of the deed, or in lieu thereof to convey designated land to the grantor, made as an inducement or consideration for the execution of the deed by the latter, does not constitute fraud, so as to authorize a cancellation of the deed, unless the promise was made with a present intention on the part of the promisor not to comply...
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