Defendant contracted to sell a parcel of real property and received a $4,500 down payment from the purchasers. When the purchasers were unable to secure adequate financing, the parties agreed to terminate the contract and defendant agreed to return the down payment. In January, 1979, defendant gave the purchasers a promissory note in the amount of the down payment. The note was to mature on April 1, 1979. Defendant testified that, at the...
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