Moses (P) sold 160 acres of land to Johnson (D) for nine dollars per acre. Only five dollars of the purchase money was paid. The balance was agreed to be paid in annual installments for the next five years. P retained title with an obligation to convey to D once the purchase money contract was satisfied. The agreement stipulated that if the agreement were not honored, P had the right to retake the premises and retain all monies paid as rent at the rate of $60 per year with the surplus if any going to D. An injunction was given but dissolved and P appealed.

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