Landreth v. Carey
Supreme Court of Iowa
Appeal from Adair District Court. — • HoN. EdMUNd Nichols, Judge. The parties hereto entered into an agreement by the terms of which plaintiffs were to exchange a stock of goods at wholesale prices with 6 per cent, added for carriage to defendants for an eighty acres of land in Adair county at $76.25 per acre and a horse, harness, and buggy at $200. If either failed to perform, a forfeiture of $500 as liquidated damages was stipulated.
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Appeal from Adair District Court. — • HoN. EdMUNd Nichols, Judge. The parties hereto entered into an agreement by the terms of which plaintiffs were to exchange a stock of goods at wholesale prices with 6 per cent, added for carriage to defendants for an eighty acres of land in Adair county at $76.25 per acre and a horse, harness, and buggy at $200. If either failed to perform, a forfeiture of $500 as liquidated damages was stipulated. Defendants delivered the personal property, but later declined to complete the deal, and recovery on the forfeiture is sought in this action. The defendants…
1Opinion of the CourtLadd, J.
The evidence was such that the jury should have returned a verdict for plaintiffs in the sum of $500, the amount agreed upon as liquidated damages in event of the failure of either party to carry out the agreement, this being less than the damages actually suffered, or for the defendants with an allowance on their counterclaim for the value of the personal property delivered to plaintiffs in part performance of the contract. The verdict was for defendants, but $1 only was awarded them as damages on the counterclaim; whereas, the uneontradicted evidence showed that the horse, harness, and…
2Cases cited5 opinions
- Pullman Co. v. SchaffnerSupreme Court of Georgia · 1906
- Deaton v. LawsonWashington Supreme Court · 1905
- Brazell v. CohnMontana Supreme Court · 1905
- Arnold v. McBrideSupreme Court of Arkansas · 1906
- Harwood v. BreeseNebraska Supreme Court · 1905
3Cited by1 opinion
- Larimer v. PlatteSupreme Court of Iowa · 1952