V.J. BRENNAN, J.
On March 3, 1966, plaintiffs entered into an agreement to purchase a residential lot in Oakland county from the defendant vendor for the sum of $9,850. Under the terms of the land contract, plaintiffs made an initial payment of $1,000 and agreed to pay the balance, with 6% interest, on or before March 3, 1967. Prior to entering into the contract, plaintiffs disclosed their intent to construct a single-residential dwelling and inquired about the availability...
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