The Equitable Relations of Buyer And Seller of Land Under Contract And Before Conveyance : Two Lectures Before the Law Academy of Philadelphia
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— Upon the vendee's refusal to pay, the action against him will be either to recover the purchase money with interest, or — considering the contract at an end — to recover damages for his refusal to take the land at the price agreed on. For, of course, the future ownership of the land depends upon the position taken by the vendor as plaintiff. If by his action he recovers the price, his righc to the land is gone, and he is but a trustee for the vendee, if he still holds the title.
This should a...lways be made apparent upon the record, either by the pleadings, or in some other manner; although if the question be afterwards raised, it is competent to show by oral testimony ^ Bender Y. Bender , I Wright, 419; McNair y. Compton^ II Cas. 23.
2 McNair \, Compton, supra; Meason v. Kaine.^ 17 P. F. Sm. 126.
* Harris v. Harris, 20 P. F. Sm. 170 ; Thompson v. Sheplar, 22 P. F. Sm> 160; Ruckerty. Domenec, 2 Weekly Notes, 195.
8o MEASURE OF DAMAGES.
exactly what was tried and concluded by the verdict.' Where the contract is a binding one, under the statute of frauds, there is usually no reason why the general rule which applies to all actions for the breach of a promise to pay money should not operate, namely, that the measure of damages is the sum promised to be paid, with interest from the time when payment should have been made.' If however, suit be brought for damages arising from the refusal, and not for the purchase money, the measure of damages is the same as that on breach of contract for the sale of a chattel, that is the differ- ence between the contract price, and the diminished value of the land at the time the contract ought to have been executed.
What to read after The Equitable Relations of Buyer And Seller of Land Under Contract And Before Conveyance : Two Lectures Before the Law Academy of Philadelphia?
You can find similar books in the "Read Also" column, or choose other free books by Mitchell, E. Coppée (Edward Coppée), 1836-1887 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
— Upon the vendee's refusal to pay, the action against him will be either to recover the purchase money with interest, or — considering the contract at an end — to recover damages for his refusal to take the land at the price agreed on. For, of course, the future ownership of the land depends upon the position taken by the vendor as plaintiff. If by his action he recovers the price, his righc to the land is gone, and he is but a trustee for the vendee, if he still holds the title.
This should a...lways be made apparent upon the record, either by the pleadings, or in some other manner; although if the question be afterwards raised, it is competent to show by oral testimony ^ Bender Y. Bender , I Wright, 419; McNair y. Compton^ II Cas. 23.
2 McNair \, Compton, supra; Meason v. Kaine.^ 17 P. F. Sm. 126.
* Harris v. Harris, 20 P. F. Sm. 170 ; Thompson v. Sheplar, 22 P. F. Sm> 160; Ruckerty. Domenec, 2 Weekly Notes, 195.
8o MEASURE OF DAMAGES.
exactly what was tried and concluded by the verdict.' Where the contract is a binding one, under the statute of frauds, there is usually no reason why the general rule which applies to all actions for the breach of a promise to pay money should not operate, namely, that the measure of damages is the sum promised to be paid, with interest from the time when payment should have been made.' If however, suit be brought for damages arising from the refusal, and not for the purchase money, the measure of damages is the same as that on breach of contract for the sale of a chattel, that is the differ- ence between the contract price, and the diminished value of the land at the time the contract ought to have been executed.
What to read after The Equitable Relations of Buyer And Seller of Land Under Contract And Before Conveyance : Two Lectures Before the Law Academy of Philadelphia?
You can find similar books in the "Read Also" column, or choose other free books by Mitchell, E. Coppée (Edward Coppée), 1836-1887 to read onlineMoreLess
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