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COUGHENOUR v. BATES

No. 16338.

785 S.W.2d 291 (1990)

Ralph S. COUGHENOUR, Appellant, v. Harold Paul BATES and Thelma Bates, Respondents.

Missouri Court of Appeals, Southern District, Division One.

March 5, 1990.

Attorney(s) appearing for the Case

Francis H. McClernon, Jr., Springfield, for appellant.

Jerry L. Reynolds, Ronald A. Conway, Jerry L. Reynolds and Associates, P.C., Springfield for respondent Harold Paul Bates.

No appearance for Thelma Bates.

CROW, Presiding Judge.

This appeal presents the issue of what rate of interest plaintiff Ralph S. Coughenour must pay defendants Harold Paul Bates and Thelma Bates under a contract for the purchase of real estate.

On March 20, 1982, the parties signed a "contract for deed" whereby plaintiff agreed to purchase a tract of real estate from defendants for $100,000. At time of closing plaintiff was to pay $12,500 in cash; the remaining $87,500 was to be "amortized...

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