Jaqua v. Headington

The appellees bought of the appellant a tract of land adjoining the town of Portland, and as part of the consideration which they agreed to yield for the land they promised to extend through it three of the streets of the town. This promise was embodied in a bond, and in the bond it was provided that if the streets were not extended the obligors should be bound in the “ penal sum of two hundred and fifty dollars, the same to be recovered as liquidated damages.” If the sum named is a mere penalty, then this appeal must fail; but ifthatsum is to be regarded as liquidated damages, the appeal…