This section contains the nature of the case and procedural background.

Van Lint (D) agreed to loan Price (P) $1,500 secured by real property. D advanced P $134 for the purchase of the land prior to the loan being consummated. P wanted to use the monies for building a business office. D could not come up with the funds and P, instead of claiming anticipatory repudiation, held D to the contract and sued. The issue before the trial court was whether the promises were independent covenants. The trial court found that the agreement called for D to perform first and that D had not performed and as such D was liable to P for $543.55 in aggregate after the offset of $134 was deducted.

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