Williams v. Craig

This suit' is based upon a written executory contract for the exchange of tracts of land between the parties. The contract contained a stipulation whereby each of the parties bound himself to pay to the other the sum of $500 as liquidated damages should either party to the contract fail to perform the agreement. Appellee having declined t'o deliver his deed as provided in the contract, and having declined altogether to perform the contract, suit was brought by appellant to recover the stipulated damages.

The contract was fully pleaded, and failure to comply with any of its terms and provisions…