Stearns v. Mason
Supreme Court of Virginia
In October 1862 Franklin Stearns sold to C. R. Mason certain real estate near the city of Richmond known as Stearns’ distillery, for the price of $60,000. Of this sum $35,000 was paid at the time of the purchase in Confederate States treasury notes; and Mason executed to Stearns his two bonds dated the 24th of October 1862, each for the sum of $12,500, payable, one in one and the other in two years, “in current money of Virginia,” with legal interest from the date.
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In October 1862 Franklin Stearns sold to C. R. Mason certain real estate near the city of Richmond known as Stearns’ distillery, for the price of $60,000. Of this sum $35,000 was paid at the time of the purchase in Confederate States treasury notes; and Mason executed to Stearns his two bonds dated the 24th of October 1862, each for the sum of $12,500, payable, one in one and the other in two years, “in current money of Virginia,” with legal interest from the date. The property was conveyed by Stearns and wife to Mason by deed of same date; and on the same day Mason conveyed it to if anee &…
1Opinion of the CourtAnderson, J.
The appellant Stearns, in October 1862, sold and conveyed to the appellee, Mason, two parcels of land near the city of Richmond, upon which was situated an extensive and very valuable distillery. The price was sixty thousand dollars; of which thirty-five thousand was paid in cash, in Confederate currency. For the balance, the appellee executed two bonds, payable in one and two years, with a deed of trust upon the property as security. The present controversy is as to the measure of the appellee’s liability upon these bonds. And that depends upon what wras the true understanding and agreement…
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