Cook-Reynolds Co. v. Chipman
Montana Supreme Court
Appeal from, the District Court, Fergus County; E. K. Cheadle, Judge. Action by the Cook-Reynolds Company against L. H. Chipman. Judgment for plaintiff. Defendant appeals from the judgment and an order denying his motion for a new trial. The contract in question here was practically an executed one, with certain conditions subsequent, as to payments on the balance of the purchase price and is so regarded in equity.
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Appeal from, the District Court, Fergus County; E. K. Cheadle, Judge. Action by the Cook-Reynolds Company against L. H. Chipman. Judgment for plaintiff. Defendant appeals from the judgment and an order denying his motion for a new trial. The contract in question here was practically an executed one, with certain conditions subsequent, as to payments on the balance of the purchase price and is so regarded in equity. The vendee is regarded as the owner of the equitable title, while the vendor holds the legal title in trust for the purchaser and has a lien for the purchase price. (Boone on Real…
1Opinion of the CourtJustice Sanner
On June 17, 1910, the parties to this action entered into a written agreement for the sale by respondent — plaintiff below— and the purchase by appellant- — defendant below — of certain real and personal property situate in Fergus county. Montana. The purchase price as fixed by the agreement was $29,605, payable, with interest, as follows: $5,000 at the execution of the contract; $5,819 on or before February 1, 1911; $9,786 on or before December 1, 1911; $1,000 on or before December 1, 1912; $1,000 on or before December 1, 1913; and $7,000 on or before December 1, 1914. It was further…
2Cases cited19 opinions
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- Anvil Mining Co. v. HumbleSupreme Court of the United States · 1894
- Hansbrough v. PeckSupreme Court of the United States · 1867
- Glenn v. LiggettSupreme Court of the United States · 1890
- Parsons v. SmilieCalifornia Supreme Court · 1893
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- Edwards v. MuriMontana Supreme Court · 1925
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